A Manufacturer Reports the Following Information Below for Its First

question 45

Multiple Choice

A manufacturer reports the following information below for its first three years in operation.
-Income for year 3-year period using absorption costing is:

• A)$280,000.
• B)$310,000.
• C)$300,000.
• D)$305,000.
• E)$308,000.

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Definitions:

Large Plantations

Extensive farms, especially in the past, where crops like cotton, tobacco, and sugar were grown, often with the labor of enslaved people.

Cotton Gin

A machine invented by Eli Whitney in 1793 that revolutionized the cotton industry by greatly speeding up the process of removing seeds from cotton fiber.

Plantation Owners

Individuals who owned large agricultural estates typically in the Americas, often worked by enslaved people, especially in the context of crops like tobacco and cotton.

Southern Territories

Geographic regions located in the southern part of a country or continent, which may have distinct cultural, political, or historical significance.