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:

Income Elasticity

A measure of how much the quantity demanded of a good changes in response to a change in consumers' income.

Peanut Butter

A food paste or spread made from ground, dry-roasted peanuts, often used as a sandwich filling or ingredient in various recipes.

Income Elasticity

Measures how the quantity demanded of a good responds to a change in consumer income.

Normal Good

An item for which demand increases as the income of consumers increases, showing a direct relationship between income and demand.