A ________________________ is where an individual agrees to be primarily liable for the debt of another while a _________________________ is where an individual agrees to be secondarily liable for the debt of another.

The ________ of conflict management argues that some conflict is absolutely necessary for effective organizational performance

A) traditional view B) reactionist view C) human relations view D) interactionist view

Whitney Company has just completed its first year of operations. The company's accountant has prepared an absorption costing income statement for the year as seen below:

Sales (35,000 units at $25 ) $875,000 Beginning Inventory 0 Cost of Goods Manufactured (35,000 × $12 ) + $160,000 = 580,000 Cost of Goods Available 580,000 Ending Inventory 0 Cost of Goods Sold 580,000 Gross Margin 295,000 Selling and Administrative Expenses 280,000 Net Income $15,000 The variable production costs per unit are determined as follows: Direct materials $5 Direct labor 6 Variable production 1 Total variable production costs $12 The company's fixed production costs are $160,000 per year. The company's selling and administrative expenses consist of $210,000 per year in fixed expenses and $2 per unit in variable expenses. Required: Prepare the company's income statement in the contribution format.