Revolve Company Is a Price-Taker and Uses a Target-Pricing Approach

question 103

Multiple Choice

Revolve Company is a price-taker and uses a target-pricing approach.Refer to the following information:

What is the target full product cost in total for the year? Assume all units produced are sold.

• A)$96,320
• B)$15,868,000
• C)$13,700,000
• D)$2,192,000

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Definitions:

ROM

Stands for Read-Only Memory, a type of non-volatile memory used in computers and electronic devices to store firmware or application software in a way that is not easily modified.

RAM

Random Access Memory, a type of computer memory that can be accessed randomly and is used for storing data temporarily during operations.

Operating System

The software that manages a computer's hardware resources and provides common services for computer programs.

BIOS

Basic Input/Output System, firmware used to initialize hardware during the booting process and provide runtime services for operating systems.