ABC Corporation Owns 75 Percent of XYZ Company's Voting Shares

question 43

Multiple Choice

ABC Corporation owns 75 percent of XYZ Company's voting shares. During 20X8, ABC produced 50,000 chairs at a cost of $79 each and sold 35,000 chairs to XYZ for $90 each. XYZ sold 18,000 of the chairs to unaffiliated companies for $117 each prior to December 31, 20X8, and sold the remainder in early 20X9 to unaffiliated companies for $130 each. Both companies use perpetual inventory systems.
-Based on the information given above,what amount of cost of goods sold did XYZ record in 20X8?

• A) $2,765,000
• B) $1,620,000
• C) $1,422,000
• D) $2,963,000

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Definitions:

Sexist Bias

Prejudgment or discrimination based on a person's sex or gender, often favoring one gender over another.

Social Class Biases

Prejudicial attitudes and discriminatory actions based on differences in social hierarchies, wealth, education, or lineage.

Media Messages

Information or content that is disseminated to the public via various media channels, such as TV, radio, the internet, and social platforms, often aimed at influencing opinions or behavior.

Animal = Male Bias

The tendency to automatically assume animals or generic beings are male, reflecting and reinforcing gender biases in language and thought.