For the Month Ended October 31^st, There Are No Finished

question 15

Multiple Choice

For the month ended October 31^st, there are no finished goods or work in process inventories at the beginning of the month for the Fleetfoot Company. Net sales $8,400
Product costs:
Variable 3,780
Fixed 1,890
Selling and Administrative costs:
Variable 588
Fixed 840
Units manufactured 210
Units sold 180
What would Fleetfoot's finished goods inventory cost be at December 31^st under the absorption costing method?

• A)$540
• B)$624
• C)$810
• D)$1,014

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Definitions:

Decentration

Simultaneous focusing (centering) on more than one aspect or dimension of a problem or situation.

Concrete Operational

A stage in Piaget's theory of cognitive development (ages 7-12) where children gain a better understanding of concrete events and logical operations, but struggle with abstract concepts.

Phonics

A method of teaching reading and spelling that stresses symbol-sound relationships, used especially in early grades.

Language

A system of communication used by a particular community or country, consisting of written, spoken, or gestural symbols.