The Accounting Records for Grant Manufacturing Company Included the Following

question 101

Multiple Choice

The accounting records for Grant Manufacturing Company included the following cost information relating to its first year of operations: $\begin{array}{lrr} \text { Direct materials} &\$60,000\\ \text { Direct labor } &\$80,000\\ \text { Fixed manufacturing overhead} &\$100,000\\ \text {Variable manufacturing overhead } &\$20,000\\\end{array}$

Assume the company produced 10,000 units of inventory and sold 6,000 of these units during the year for $192,000.Under variable costing,what is the contribution margin for the year? (Ignore selling and administrative expenses.)

• A) $100,000.
• B) $40,000.
• C) $32,000.
• D) None of these answers are correct.

Understand the impact of the labour market on organizational strategy.

Apprehend the importance of timely information for competitive advantage.

Comprehend the legal frameworks governing employer-employee relationships.

Grasp the concept and impact of the gig economy on HRM.

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Definitions:

Ethical Behavior

The practice of acting in ways that are morally right and beneficial to society, following principles of integrity and fairness.

Moral Philosophy

Concerns the principles, rules, and values that individuals consider in determining what is right or wrong in their conduct.

Personal Moral

An individual's set of ethical principles or values that guide their behavior and decision-making processes.

Societal Culture

The shared values, norms, identities, and interpretations that influence the behavior of members of a society or social group.