Answer the Following Questions Using the Information Below

question 74

True/False

Answer the following questions using the information below:
Queanbeyan Company incurred fixed manufacturing costs of $7200 during 2018.Other information for 2018 includes:
The budgeted denominator level is 800 units.
Units produced total 1000 units.
Units sold total 950 units.
Beginning inventory was zero.
The fixed manufacturing cost rate is based on the budgeted denominator level.Manufacturing variances are closed to cost of goods sold.
-When variable costing is used,an income statement will show gross margin.

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Definitions:

New Yorker

A resident or native of New York City.

Ingroup Bias

The tendency to favor one's own group over others, often resulting in prejudice and discrimination.

Outgroup Homogeneity

Outgroup Homogeneity is the tendency to view members of an outgroup as more similar to each other than they really are, often leading to stereotyping.

Scapegoating

The practice of unfairly blaming an individual or group for problems or negative outcomes, often to divert attention from the real causes.