Swifton corporation produces a single product. last year, the company had net operating income of $40,000 using variable costing. beginning and ending inventories were 22,000 and 27,000 units, respectively. if the fixed manufacturing overhead cost was $3 per unit both last year and this year, what was the income using absorption costing? $15,000 $25,000 $40,000 $55,000

When used-car dealers signal the quality of a used car with a warranty, a. buyers believe the signal because the cost of a false signal is high b. it is not rational to believe the signal because some used-car dealers are crooked c. the demand for lemons is eliminated d. the price of a lemon rises above the price of a good used car because warranty costs on lemons are greater than warranty costs on good used cars