1. Consider the following for Guardian Manufacturing Company? Change in finished goods imventory: $315 increase Change in work in process imentory. $145 increase Total manufacturing costs: $630 What is the cost of goods sold? 2. A review of Parrish Corporation's accounting records found that at a volume of 90,000 units, the variable and fued cost per unit amounted to $8 and $4, respectively. On the basis of this information, what amount of total cost would Parrish anticipate at a volume of 85,000 units (assuming it is within the relevant range)? 3. The following data represents the costs incurred for four cost items at two different levels of production Production Levels Cost item 5,000 Units 15,000 Units \begin{tabular}{lll} 1 & $100,000 & $300,000 \\ 2 & $40,000 & $240,000 \\ 3 & $90,000 & $90,000 \\ 4 & 550,000 & $150,000 \end{tabular} Which of the above cost items are pure variable costs? 4. Idle time during production is an example of: A indirect cost B Product cost C Manufacturing overhead D All of the above 5. Overtime incurring during production is an example of: A Period cost B Conversion cost C Prime cost if it is due to poor scheduling by the scheduling manager i.e. poor internal controls 0 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 $75,000. When volume increased by 10%, the total cost increased to $82,500. The cost that Parker is studying can best be dexcribed as a: A Variable cost B Fixed cost C Mixed cost D Step fixed cost