The Browning Company Manufactures a Single Product;the Standard Costs Per

question 77

Multiple Choice

The Browning Company manufactures a single product;the standard costs per unit being variable manufacturing $8,fixed manufacturing $6.Selling and administrative costs are $2 per unit sold.The selling price is $20 per unit.Actual and budgeted fixed overhead is $900 000 for the year.Information about Browning's production activity for the year follows:
What is the value of closing inventory of finished goods under variable costing?

• A) $420 000
• B) $180 000
• C) $240 000
• D) $120 000

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Definitions:

Legitimations

The processes or reasons presented to justify actions, beliefs, or systems, especially concerning their conformity to social norms or values.

Ideology

A system of ideas, beliefs, and values that reflects the social needs and aspirations of an individual, group, class, or culture.

Subjectivity

The quality of being based on or influenced by personal feelings, tastes, or opinions rather than external facts.

Totality

In philosophy and critical theory, a concept referring to the whole of reality or experience, considered as a complete system or entity.