Use This Information for Timmer Corporation to Answer the Questions

question 84

Multiple Choice

Use this information for Timmer Corporation to answer the questions that follow.

Timmer Corporation just started business in January. There were no beginning inventories. During the year, it manufactured 12,000 units of product and sold 10,000 units. The selling price of each unit was $20. Variable manufacturing costs were $4 per unit, and variable selling and administrative costs were $2 per unit. Fixed manufacturing costs were $24,000, and fixed selling and administrative costs were $6,000.

-What would Timmer's net income be for the year using variable costing?

• A) $114,000
• B) $110,000
• C) $4,000
• D) $106,000

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Definitions:

Isoelectric Point

The pH at which a molecule, especially an amino acid or protein, carries no net electric charge, making it electrically neutral.

Enzymatic Resolution

A process using enzymes to separate enantiomers of a racemic mixture based on their reactivity.

Electrophoresis

A laboratory technique used to separate charged molecules, such as DNA, RNA, or proteins, based on their size and charge by applying an electric field.

Ninhydrin Test

A chemical test used for detecting the presence of amino acids, where a color change indicates a positive result.