Management of Lewallen Corporation Has Asked Your Help as an Intern

question 119

Multiple Choice

Management of Lewallen Corporation has asked your help as an intern in preparing some key reports for September. Direct materials cost was $57,000, direct labor cost was $43,000, and manufacturing overhead was $71,000. Selling expense was $15,000 and administrative expense was $32,000. The prime cost for September was:

• A)$114,000
• B)$100,000
• C)$103,000
• D)$47,000

Understand the significance of the quantity effect and price effect on total revenue.

Assess the likely economic consequences of business and policy decisions on revenue based on elasticity.

Understand the stages and terminology of prenatal development.

Recognize the key physiological and developmental milestones from conception to birth.

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Definitions:

Private Law

The law relating to the relationship between individuals.

Administrative Law

The body of law that governs the creation and operation of administrative agencies, including the rules and regulations they enact.

Stare Decisis

A legal principle that dictates that courts should follow the precedents set in previous legal decisions.

Doctrine of Precedent

A legal principle whereby previous judicial decisions influence or control the ruling on similar future cases.