Sequoyah,Inc What Is the Unit Product Cost Using Variable Costing?
A)

question 42

Multiple Choice

Sequoyah,Inc.reports the following information: $$\begin{array} { | l | l | l | } \hline \text { Units produced } & \$ 20 & \text { units } \\\hline \text { Units sold } & \$ 20 & \text { units } \\\hline \text { Sales price } & \$ 110 & \text { per unit } \\\hline \text { Direct materials } & \$ 40 & \text { per unit } \\\hline \text { Direct labor } & \$ 25 & \text { per unit } \\\hline \text { Variable manufacturing overhead } & \$ 30 & \text { per unit } \\\hline \text { Fixed manufacturing overhead } & \$ 14,000 & \text { per year } \\\hline \text { Variable selling and administrative costs } & \$ 15 & \text { per unit } \\\hline \text { Fixed selling and administrative costs } & \$ 25,000 & \text { per year } \\\hline\end{array}$$ What is the unit product cost using variable costing?

• A) $110
• B) $92
• C) $95
• D) $15

Recognize the behavioral implications of elasticity in public policy, such as the effectiveness of sin taxes.

Interpret graphical representations of supply and demand curves, including shifts due to tax impositions.

Understand the various depth cues and how they contribute to the perception of depth in humans.

Describe the processes involved in visual perception, including the problems of object recognition and the binding problem.

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Definitions:

Projected Benefit Obligation

An actuarial estimate of the total present value of future retirement benefits earned to date, adjusted for expected future salary increases.

Prior Service Cost

The expense recognized in pension accounting when a plan is amended to increase benefits for service provided by employees in prior years.

Ending Balance

The amount of money in an account at the end of a financial period, after all transactions have been accounted for.

Plan Assets

The resources set aside to pay employee benefits under a pension or other post-employment benefit plan.