When someone says resources are scarce, this suggests that: additional resources could be found if there were additional funds allocated to the effort. we have enough resources to meet all of our needs and wants. choices must be made to utilize resources in the best manner possible. lower-income individuals must be especially careful about the choices they make.

Dozier company produced and sold 1,000 units during its first month of operations. it reported the following costs and expenses for the month: direct materials $ 69,000 direct labor $ 35,000 variable manufacturing overhead $ 15,000 fixed manufacturing overhead 28,000 total manufacturing overhead $ 43,000 variable selling expense $ 12,000 fixed selling expense 18,000 total selling expense $ 30,000 variable administrative expense $ 4,000 fixed administrative expense 25,000 total administrative expense $ 29,000 required: 1. with respect to cost classifications for preparing financial statements: a. what is the total product cost