Circetrax,Inc What Is the Unit Product Cost for the Year Using

question 146

Multiple Choice

Circetrax,Inc.has provided the following financial information for the year: $$\begin{array} { | l | r | } \hline \text { Finished Goods Inventory: } & \\\hline \text { Beginning balance, in units } & 610 \\\hline \text { Units produced } & 2800 \\\hline \text { Units sold } & 2900 \\\hline \text { Ending balance, in units } & 510 \\\hline \text { Production costs: } &\\\hline \text { Variable manufacturing costs per unit } & \$ 50 \\ \hline \text { Total fixed manufacturing costs } & \$ 42,000\\\hline\end{array}$$ What is the unit product cost for the year using absorption costing?

• A) $65
• B) $82
• C) $119
• D) $64

Recognize the importance of explicit and implicit costs in determining profit.

Identify the process of production and the transformation of inputs into outputs.

Discern the role and calculation of normal rate of return in firm economics.

Distinguish between operating profit and economic profit.

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Definitions:

Work-Life Balance

The equilibrium between professional responsibilities and personal life, aiming for a healthy life satisfaction.

Telecommuting

A work arrangement in which employees do not commute to a central place of work but work remotely, often from home, utilizing digital communication tools.

External Environmental Factor

Elements outside an organization that can affect its performance and strategy, such as economic conditions, regulations, and market trends.

Economic Climate

Refers to the overall state of the economic environment marked by indicators like GDP growth rates, unemployment, and inflation.