How is the value of a product determined?
A. By the amount a consumer is willing to pay for it
B. By how much it cost the producer to make
C. By its variable costs
D. By the number of workers who were involved in making it
Please select the best answer from the choices provided
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Performance bicycle company makes steel and titanium handle bars for bicycles. it requires approximately 1 hour of labor to make one handle bar of either type. during the most recent accounting period, barr company made 7,700 steel bars and 2,300 titanium bars. setup costs amounted to $35,000. one batch of each type of bar was run each month. if a single company-wide overhead rate based on direct labor hours is used to allocate overhead costs to the two products, the amount of setup cost assigned to the steel bars will be: