During Its First Year of Operations, Kima Corp

question 145

Multiple Choice

During its first year of operations, Kima Corp. experienced the following: Units manufactured 70,000
Units sold 60,000
Product costs:
Variable $10.50/unit
Fixed $315,000
Selling and Administrative:
Variable $1.60/unit
Fixed $140,000
The amount of variable costs deducted from revenues under the variable costing approach would be:

• A)$847,000
• B)$831,000
• C)$726,000
• D)$742,000

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Definitions:

Plato

An ancient Greek philosopher, student of Socrates, and teacher of Aristotle, known for his contributions to philosophy, mathematics, and the concept of forms.

Saint Augustine

An early Christian theologian and philosopher whose writings influenced the development of Western Christianity and Western philosophy, especially regarding concepts of original sin and divine grace.

Aristotle

An ancient Greek philosopher and scientist, whose works cover a wide range of subjects and form the basis of Western philosophy.

Aristotle

An ancient Greek philosopher and scientist, one of the greatest intellectual figures of Western history, who made significant contributions to various fields of knowledge.