Phipps Co. sells two products, Arks and Bins.Last year Phipps sold 12,000 units of Arks and 28,000 units ofBins. Related data are: Product UnitSelling Price Unit VariableCost Unit ContributionMargin

Arks $120 $80 $40

Bins 80 60 20

What was Phipps Co.'s total unit variablecost? a. $140 b. $ 70 c. $ 66 d. $ 60

Using the following partial tableof present value of $1 at compound interest, determine the presentvalue of $20,000 to be received four years hence with earnings atthe rate of 12% a year:

Year 6% 10% 12%

1. 943. 909. 893

2 .890 .826 .797

3 .840 .751. 712

4 .792 .683 .636

a. $13,660

b. $12,720

c. $15,840

d. $10,400