Loring Company Had the Following Data for the Month

question 102

Multiple Choice

Loring Company had the following data for the month:

Fixed overhead is $4,000 per month; it is applied to production based on normal activity of 2,000 units.During the month, 2,000 units were produced.Loring started the month with 300 units in beginning inventory, with unit product cost equal to this month's unit product cost.A total of 2,100 units were sold during the month at price of $14.Selling and administrative expense for the month, all fixed, totaled $3,600.
What is operating income under variable costing?

Recognize the significance of insurance coverage in sales and lease contracts.

Identify conditions and consequences of a party's breach in sales contracts.

Understand the nuances of shipment, destination, and warehouse receipts in contracts.

Understand the concept of profit maximization in the product life cycle stages.

---

Definitions:

Multiple Loves

The practice or ability of having romantic love towards more than one person simultaneously.

Extradyadic

Pertaining to actions or activities that occur outside of a committed relationship, often used in the context of infidelity.

Unrequited Love

Love that is one-sided or not openly reciprocated or understood.

Rejectors

Individuals who refuse to accept, consider, or submit to something; often contextually dependent on the subject at hand.