Iancu Company, Which Has Only One Product, Has Provided the Following

question 123

Multiple Choice

Iancu Company, which has only one product, has provided the following data concerning its most recent month of operations:
$\begin{array} { | l | r | } \hline \text { Selling price } & \$ 149 \\\hline \text { Units in beginning inventory } & 0 \\\hline \text { Units produced } & 4,200 \\\hline \text { Units sold } & 3,900 \\\hline \text { Units in ending inventory } & 300 \\\hline \text { Variable costs per unit: } & \\\hline \text { Direct materials } & \$ 27 \\\hline \text { Direct labour } & \$ 46 \\\hline \text { Variable manufacturing overhead } & \$ 5 \\\hline \text { Variable selling and administrative } & \$ 9 \\\hline \text { Fixed costs: } & \\\hline \text { Fixed manufacturing overhead } & \$ 155,400 \\\hline \text { Fixed selling and administrative } &\$ 70,200 \\ \hline\end{array}$


-What was the operating income (loss) for the month under variable costing?

• A) ($7,200).
• B) $11,100.
• C) $16,200.
• D) $27,300.

Understand the characteristics and accounting implications of convertible debt and convertible bonds.

Understand the core components and calculations involved in pension expense for defined benefit plans.

Differentiate between defined benefit and defined contribution pension plans.

Recognize the impact of actuarial assumptions on pension obligations and expenses.

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Definitions:

Contingency-Oriented

An approach or mindset focused on planning and preparing for various possible futures or outcomes.

OB Theories

Theories in Organizational Behavior that examine how individuals and groups act within organizations, aiming to understand, predict, and influence employee behavior.

Authentic Laughter

Genuine laughter that reflects true amusement, joy, or happiness, as opposed to forced or fake laughter.

Physiological Benefits

The positive effects of activities or behaviors on the body's physical functioning, health, or well-being.