The Clark Company Makes a Single Product and Uses Standard

question 143

Multiple Choice

The Clark Company makes a single product and uses standard costing. Some data concerning this product for the month of May follow:
-The total standard cost for direct labor for May was closest to:

• A) $168,000
• B) $180,000
• C) $120,000
• D) $161,000

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Definitions:

Closed-end Investment

An investment fund that has a fixed number of shares outstanding, typically traded on a stock exchange, unlike open-end funds that can issue unlimited shares.

NAV

Net Asset Value, the per-share value of a mutual fund or exchange-traded fund, calculated by dividing the total value of all the securities in the portfolio by the number of shares outstanding.

Premium/Discount

Refers to the amount by which the market price of a bond exceeds (premium) or is less than (discount) its face value.

Front-end Load

A sales charge or commission paid by an investor at the initial purchase of mutual fund shares, usually used to compensate brokers or sales agents.