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Answer the following questions using the information below:
Veach Corporation incurred fixed manufacturing costs of $6,000 during 2015. Other information for 2015 includes:
The budgeted denominator level is 1,000 units.
Units produced total 750 units.
Units sold total 600 units.
Beginning inventory was zero.
The company uses variable costing and the fixed manufacturing cost rate is based on the budgeted denominator level. Manufacturing variances are closed to cost of goods sold.
-Fixed manufacturing costs expensed on the income statement (excluding adjustments for variances) total ________.
Recency Effect
A cognitive bias that causes people to remember the most recently presented information best, which can influence decision-making and opinions.
Influence Tactics
Strategies or methods used to persuade or impact others' decisions, behaviors, or perceptions in order to achieve a desired outcome.
Norm of Reciprocity
A social standard that expects individuals to respond to others with the same behavior they have received.
Use of Pressure
The application of influence, threats, or coercion by one party to persuade another to act in a certain way.
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