Iagan,IncHas Collected the Following Data

question 29

Multiple Choice

Iagan,Inc.has collected the following data.(There are no beginning inventories. )

What is the ending balance in Finished Goods Inventory using variable costing if 500 units are sold?

• A)$4000
• B)$4700
• C)$1700
• D)$3000

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Definitions:

Economic Efficiency

Economic efficiency occurs when a system maximizes its resources to produce optimal quantities of goods and services, thus minimizing waste and inefficiencies.

Monopoly Power

The ability of a firm or entity to control or dominate an industry or sector, enabling it to set prices above competitors without losing significant market share.

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over competing brands due to perceived satisfaction and quality.