Chino Began Business at the Start of the Current Year

question 4

Multiple Choice

Chino began business at the start of the current year. The company planned to produce 25,000 units, and actual production conformed to expectations. Sales totaled 22,000 units at $30 each. Costs incurred were: $\begin{array}{lr}\text { Variable manufacturing overhead per unit } & \$ 8 \\\text { Fixed manufacturing overhead } & 150,000 \\\text { Variable selling and administrative cost per unit } & 2 \\\text { Fixed selling and administrative cost } & 100,000\end{array}$ If there were no variances, the company's absorption-costing income would be:

• A) $190,000.
• B) $202,000.
• C) $208,000.
• D) $220,000.
• E) None of the other answers are correct.

Recognize the conditions under which a bankruptcy discharge may be denied.

Describe the amendment rules for a Chapter 13 plan after confirmation.

Identify non-bankruptcy alternatives for debt relief and creditor protection.

Understand the principles of Chapter 7 bankruptcy, including the liquidation process and order of claims.

---

Definitions:

Need To Belong

A basic human drive to create and sustain robust, lasting connections with others.

Mental Health Problems

A wide range of conditions that affect mood, thinking, and behavior, often requiring professional diagnosis and treatment.

Poor Physical Health

A state characterized by ill health or impaired physical functioning, often resulting from disease, injury, or lifestyle choices.

Mutual Concern

A state where individuals or groups have shared interests, problems, or goals often leading to cooperation or collaborative efforts.