Use the information below for Jensen Company to answer the question that follow. Direct materials used $345,000 Direct labor incurred 250,000 Factory overhead incurred 400,000 Operating expenses 175,000 Jensen Company's product costs are a.$825,000 b.$995,000 c.$920,000 d.$770,000

b.$995,000

Explanation:

Jensen Company

Direct materials used $345,000

Direct labor incurred 250,000

Factory overhead incurred 400,000

Product cost $995,000

Therefore Jensen Company's product costs is $995,000

Direct materials used $345,000 + Direct labor incurred 250,000 +Factory overhead incurred 400,000 =$995,000

Jensen Company's product costs are b.$995,000

Explanation:

Product Cost includes all Manufacturing Costs. Non-Manufacturing Costs are treated as expenses during the current period

Calculation of Jensen Company's product costs

Direct materials                       345,000

Direct labor incurred               250,000

Factory overhead incurred     400,000

Total                                          995,000

the answer would be voluntary exchange -

"the act of buyers and sellers freely and willingly engaging in market transactions. moreover, transactions are made in such a way that both the buyer and the seller are better off after the exchange than before it occurred."

hope this : )

-shy