Mackenzie,Inc What Is the Ending Balance in Finished Goods Inventory Using

question 285

Multiple Choice

Mackenzie,Inc.has collected the following data.(There are no beginning inventories.) $$\begin{array} { | l | r | c | } \hline \text { Units produced } & 600 & \text { units } \\\hline \text { Sales price } & \$ 120 & \text { per unit } \\\hline \text { Direct materials } & \$ 20 & \text { per unit } \\\hline \text { Direct labor } & \$ 12 & \text { per unit } \\\hline \text { Variable manufacturing overhead } & \$ 6 & \text { per unit } \\\hline \text { Fixed manufacturing overhead } & \$ 17,400 & \text { per year } \\\hline \text { Variable selling and administrative costs } & \$ 5 & \text { per unit } \\\hline \text { Fixed selling and administrative costs } & \$ 13,700 & \text { per year } \\\hline\end{array}$$ What is the ending balance in Finished Goods Inventory using absorption costing if 550 units are sold? (Round any intermediate calculations to the nearest cent,and your final answer to the nearest dollar.)

• A) $1450
• B) $1900
• C) $4742
• D) $3350

Grasp the conceptual and procedural specifics of constructing confidence intervals for the expected value of y in regression.

Learn to calculate and interpret correlation coefficients and their implications in linear relationships.

Identify and interpret the coefficient of determination and its relevance in explaining variance.

Understand the assumptions underlying simple linear regression analysis, including normality, constant variance, and independence.

---

Definitions:

Job Satisfaction

The level of contentment employees feel about their work, which can affect their performance and retention.

Minimum Required Rate Of Return

The lowest acceptable rate of return on an investment, considering its risk and the opportunity cost of forgoing other investments.

Average Operating Assets

The average value of the assets that are used in the normal operations of a business, calculated over a specific period of time.

Net Operating Income

The profit generated from a company's everyday operational activities, excluding taxes and interest.