Yankee Corporation Manufactures a Single Product

question 17

Multiple Choice

Yankee Corporation manufactures a single product.The company has the following cost structure: Last year, 4, 000 units were produced and 3, 500 units were sold.There were no beginning inventories. Under variable costing, the unit product cost would be:

• A)$4 per unit
• B)$5 per unit
• C)$7 per unit
• D)$8 per unit

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Definitions:

Outstanding Deposit

Outstanding deposits are amounts of money that have been deposited in a bank account but not yet cleared or credited to the available balance.

Check Register

A record book or digital log used to track checks written, deposits made, and current balance in a checking account.

Cash Balance

The amount of cash a company or individual has on hand, reflecting the liquid assets available for immediate use.

Checks

Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or a designated entity.