Answer the Following Question(s)using the Information Below

question 142

Multiple Choice

Answer the following question(s) using the information below.Jenny's Corporation manufactured 25,000 grooming kits for horses during March.The fixed-overhead cost allocation rate is $20.00 per machine-hour.The following fixed overhead data pertain to March:

-What is the flexible-budget amount for fixed-overhead?

• A)$120,000
• B)$122,000
• C)$123,000
• D)$125,000
• E)$120,983

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Definitions:

Equity Method

An accounting technique used by companies to assess the profits earned through their investments in other companies.

Unrealized Loss

A loss that results from holding onto an asset that has decreased in price, but has not yet been sold.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing the ownership interest of shareholders.

Equity Securities

Financial instruments representing ownership in a company, such as stocks, which provide a claim to a portion of the company's profits and assets.