18-21 Beginning Ending Raw Materials inventory $200 $180 Work in Process Inventory 320 410 Finished Goods inventory 250 200 Purchases of Direct Materials 400 Direct Labor 450 Manufacturing Overhead Allocated 620 Operating Expenses 650 Sales Revenue 4,000 What was the amount of direct materials used? (assume raw materials inventory consists of direct materials only) A $600 B. $380 C. $420 D. $400 What was the cost of goods manufactured? A $1,580 B. $1,380 C. $1,400 D. $1,490 What was the cost of goods sold? A $1,450 B. $1,350 C. $1,470 D. $ 790 What was operating income? A $2,550 71 54.000 C. $3,350 D. $1,900 Month January February March April May June Number of snow cones 7,200 8,000 6,000 6,600 7,700 7,250 Total operating costs $4,700 $5,800 $4,600 $4,500 $5,100 $5.000 The variable cost per snow cone using the high-low method is: A $1.67. 72 R$0.73 C. $0.77 D. $0.60 23 Using the high-low method, the fixed costs for a month are: A $ 1.000. B. $10,400 C. $ 1,200 D. $ 4,800. The following materials standards have been established for a particular product: The following materials standards have been established for a particular product: Standard quantity por unit of output.... Standard price... 8.3 games $19.15 per gram The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased..... Actual materials used in production 7,500 grams $141,378 7 100 grams 200 units What is the materials price variance for the month? 24 A $2,250 F B. $7,540 U C. $24,317 U D. $7,660 U The following materials standards have been established for a particular product Standard quantity per unit of output. 1.7 meters Standard price.... $19.80 per meter 25 The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual.cost of materiale purchased....... Actual materials used in production....... Actual output.... -6,800 noters $443,650 5, 100 meters 3,200 units What is the materials quantity variance for the month? A. $13,720 U B. $6,732 C. $13,860 U D. $6,664 F The following labor standards have been established for a particular product 7 of 7 The following labor standards have been established for a particular product Standard labot-hours-per-unit ct output 12 hours Standard labor rate....... $14.05 per hour The following data pertain to operations concerning the product for the last month: Actual bours worked 3,700 hours Actual total labor cost.. $50,690 Actual output... 2.300 units What is the labor rato variance for the month? 26 A $1,295 F B. $2,877 F C. $4,246 F D. $4,246 U The following labor standards have been established for a particular product: Standard labor-hours per unit of output... 8.3 hours Standard labor rate... $12.10 per hour 27 The following data pertain to operations concerning the product for the last month Actual hours worked 6.100 hours AttitetaHaber-cool $74,870 Actual output. 900 units What is the labor efficiency variance for the month? A. $19,017 F B. $19,017 U C. $16,029 F D. $16,577 F