Cullumber Stoner sells handmade jewelry that she designs herself. The items aren’t expensive, and she has a loyal following in her town and the surrounding area. Cullumber incurred the following unit costs to produce 62,800 items. Direct materials $2.90 Direct labor $1.73 Variable overhead $0.79 Fixed overhead $4.29 Cullumber began the year with no inventory. During the year she sold 45,500 items for $15.16 each, incurring $0.48 in selling costs per item plus $4,900 in advertising and other selling expenses. (a) Under variable costing, what is Cullumber’s operating income?

Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.