1. Consider the following for Guardian Manufacturing Company. change in finished toods imentony $315 increace Change in work in process liventony: 5145 increase Total manufacturing costs: 5630 What is the cost of goods sold? 2. Areview of Parmh Corporation's sccounting records found that at a volume of 90,000 units, the variable and fived cost per unit amounted to 58 and 54 , respectrvely, On the basis of this information, what amount of totat cost would Parish anticipate at a volume of 85,000 units [assuming it is within the relevantrange]? 3. The following data represents the costs incurred for four cost items at two different levels of production: Production tevets Costitem 5,000 Units 15,000 Units \begin{tabular}{|lll|} \hline 1 & $100,000 & $300,000 \\ 2 & 540,000 & 5240,000 \\ 3 & 590,000 & $90,000 \\ \hline 4 & 550,000 & $150,000 \end{tabular} Which of the above cost itens are purevatiable costs? 4. Idle time during production is an example of: A indirect cost B Product cost CManufacturing overhead D All of the above 5. Overtime incurring during production is an example of: A Period cost B Conversion cost CPrime cost if it is due to poor scheduling by the scheduling manager i.e. poor internal controls D Period cost if it is traceable to the customer 6. Parker Corporation observed that when 25,000 units were sold, the total cost amounted to 575,000 . Whien volume increased by 1004 , the total cost increased to 582,500 . The cost that Parke is studying can best be described as a: A Variable cost 8 Fixed cost C Mired cost D step fixed cost