Answer the Following Questions Using the Information Below

question 72

Multiple Choice

Answer the following questions using the information below:
Beat, Inc., expects to sell 60,000 athletic uniforms for $80 each in 2012. Direct materials costs are $20, direct manufacturing labor is $8, and manufacturing overhead is $6 for each uniform. The following inventory levels apply to 2011:

-What is the amount budgeted for cost of goods manufactured in 2012?

• A)$2,040,000
• B)$1,972,000
• C)$2,312,000
• D)$2,380,000

Evaluate factors to consider when making an offer on a home.

Discuss the implications and considerations of alternative housing options, including tiny houses, and understand housing selection factors.

Understand the concept and types of consumer organizations including cooperatives.

Identify economic factors influencing buying decisions.

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Definitions:

Consumer Surplus

The gap between what consumers are prepared to pay for a product or service, and what they end up spending.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to market price.

Consumer Surplus

The contrast between the expected payment by consumers for a good or service and the actual price paid.

Market Supply

The total quantity of a good or service that producers are willing and able to sell at various prices during a given time period.