Gordon Company Produces a Single Product That Sells for $10

question 74

Multiple Choice

Gordon Company produces a single product that sells for $10 per unit. Last year, there were no beginning inventories, 100,000 units were produced, and 80,000 units were sold. The company has the following cost structure:
$\begin{array} { | l | r | r | } \hline & \text { Fixed Costs } & \text { Variable Costs } \\\hline \text { Raw materials } & - - & \$ 2.00 \text { per unit produced } \\\hline \text { Direct labour } & - - & 1.25 \text { per unit produced } \\\hline \text { Factory overhead } & \$ 120,000 & 0.75 \text { per unit produced } \\\hline \text { Selling and administrative } & 70,000 & 1.00 \text { per unit sold } \\\hline\end{array}$

-Under absorption costing,what was the carrying value on the balance sheet of the ending finished goods inventory? Do not round intermediate calculations.

• A) $80,000.
• B) $104,000.
• C) $110,000.
• D) $200,000.

Understand the fundamental characteristics and differences between negotiation situations.

Identify the conditions that create competitive (non-zero-sum) and cooperative (zero-sum) negotiation scenarios.

Recognize the role of negotiation in various contexts, not limited to specialized professions.

Understand the strategic approaches and their importance in negotiation success.

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Definitions:

Biomedical Approach

A perspective that attributes psychological disorders to biological phenomena, such as genetic factors, brain chemistry, and neural activity.

Insightful Approach

A method or strategy characterized by the ability to understand complex or hidden aspects of a problem, leading to a novel solution.

Labor Law

The body of laws, administrative rulings, and precedents which address the legal rights of, and restrictions on, working people and their organizations.

Employer Needs

The requirements or demands of employers that need to be met for operational success, including staffing, productivity, and regulatory compliance.