1. Consider the following costs incurred in a recent period:

Direct Materials	$33,000
Depreciation on Factory Equipment	$12,000
Factory Janitors Salary	$23,000
Direct Labor	$28,000
Utilities For Factory	$9,000
Selling Expenses	$16,000
Production supervisors salary	$34,000
Administrative expense	$21,000

What was the total amount of the period costs listed above for the period?

$37,000

$46,000

$71,000

$78,000

2. The Lyons Company's cost of goods manufactured was $120,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $30,000, the beginning inventory of finished goods must have been:

$20,000

$50,000

$110,000

$150,000

3.

The following inventory balances relate to Lequin Manufacturing Corporation at the beginning and end of the year:

	Beginning	Ending
Raw Materials	14000	19000
Work In Process	31000	7000
Finished Goods	25000	23000

Lequin's total manufacturing cost was $543,000. What was Lequin's cost of goods sold?

$517,000

$545,000

$569,000

$567,000

4. Haan Inc. is a merchandising company. Last month the company's cost of goods sold was $66,000. The company's beginning merchandise inventory was $14,000 and its ending merchandise inventory was $16,000. What was the total amount of the company's merchandise purchases for the month?

$64,000

$66,000

$68,000

$96,000

5. Prime cost consists of direct materials combined with:

direct labor

manufacturing overhead

indirect materials

cost of goods manufactured

6. The following costs were incurred in August:

Direct Materials	37000
Direct Labor	14000
Manufacturing Overhead	38000
Selling Expenses	10000
Admin Expenses	28000

Conversion costs during the month totaled:

$127,000

$52,000

$51,000

$75,000