Lewes Company Produced 8,000 Units of Inventory and Sold 6,000

question 88

Multiple Choice

Lewes Company produced 8,000 units of inventory and sold 6,000.The company incurred the following production costs: Variable manufacturing cost: $12.00 per unit
Fixed manufacturing overhead cost: $60,000
Assuming the company sells its product at a price of $25 per unit,and incurred $10,000 in selling and administrative cost,what is the amount of net income under variable costing?

• A) $107,000
• B) $68,000
• C) $23,000
• D) $8,000

Understand the properties and applications of the t distribution in hypothesis testing.

Distinguish between one-sided and two-sided hypothesis tests.

Calculate the degrees of freedom for a t test.

Identify appropriate methods for checking assumptions of t procedures.

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