The Following Information Is Available at the End of the Period

question 73

Multiple Choice

The following information is available at the end of the period for the completed Job 713: $$\begin{array} { l r } \text { Beginning balance } & \$ 1,500.00 \\\text { Direct materials } & 30,600 \\\text { Direct labor } & 24,500 \\\text { Overhead applied } & 41,700 \\\text { Adjustment - overapplied overhead } & 1,600 \\\\\text { Total number of units produced}& 30,000 \\\text { Total number of units sold}& 28,500\end{array}$$
What is the unit cost for Job 713?

• A) $3.94
• B) $3.89
• C) $4.00
• D) $4.09

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Definitions:

Short-Run Aggregate Supply

The overall quantity of products and services that companies intend to offer for sale within a brief period, based on existing prices.

Aggregate Demand

Overall market demand for goods and services in an economy, determined at a prevailing comprehensive price level for a certain duration.

Equilibrium Output

The level of output where the quantity of goods produced equals the quantity of goods consumed, resulting in market equilibrium.

Potential Output

The maximum amount of goods and services an economy can produce when it is most efficiently utilizing all its resources.