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11. Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121,000 and 10,000 direct labor-hours for the period. The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period. The predetermined overhead rate is closest to: A. $10.37 B. $12.10 C. $11.10 D. $11.30 12. Last year, HCC, Inc had Sales of $500,000, cost of goods sold of $290,000, ending accounts receivable of $75,000 and ending inventory balance of $25,000. The company's inventory turnover was closest to: A. 12.08 B. 11.60 C. 5.80 D. 11.15 13. Granger Corp had $180,000 in Sales on account last year and offered a 10% discount. The ending accounts receivable balance was $14,000, after bad debt expense of $5,000. The company's average collection period (DSC) was closest to: A. 20.3 days B. 28.4 days C. 36.5 days D. 56.8 days 14. Falmouth Corp. debt-to-equity ratio is 0.4. Current Assets are $300,000, long-term debt liabilities are $200,000 and working capital is $140,000. Total assets for the corporation must be: A. $600,000 B. $1,260,000 C. $800,000 D. $1,280,000