QUESTION 23

1. A company is planning to produce 17,000 bowling balls during the year. The price of a ball is $15 and the total variable cost is $85,000. It has total fixed costs of $140,000. The companys expected profit using CVP analysis is

   	a.	$55,000.
   	b.	$30,000.
   	c.	$240,000.
   	d.	$70,000.

1 points

QUESTION 24

1. What is work in process inventory generally described as?

   	a.	Costs applicable to units that have been started in production but are only partially completed.
   	b.	Costs strictly associated with direct labor.
   	c.	Beginning stage production costs associated with labor costs dealing with bringing in raw materials from the shipping docks.
   	d.	Costs associated with the end stage of manufacturing that are almost always complete and ready for customers.