1.)Cameroon Corp. manufactures and sells electric staplers for $17.00 each. If 10,000 units were sold in December, and management forecasts 3% growth in sales each month, the dollar amount of electric stapler sales budgeted for February should be:

$191,337

$175,100

$185,764

$180,353

$170,000

2.)

Calgary Industries is preparing a budgeted income statement for 2015 and has accumulated the following information. Predicted sales for the year are $765,000 and cost of goods sold is 40% of sales. The expected selling expenses are $84,500 and the expected general and administrative expenses are $93,500, which includes $26,500 of depreciation. The companies income tax rate is 30%. The budgeted net income for 2015 is:

$459,000.

$196,700.

$281,000.

$85,400.

$84,300.

3.)

A July sales forecast projects that 7,200 units are going to be sold at a price of $11.70 per unit. The management forecasts 15% growth in sales each month. Total July sales are anticipated to be:

$84,240.

$88,101.

$80,379.

$109,980.

$58,500.

4.)

Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of units expected to be produced are 187,000 in October, 195,500 in November, and 192,000 in December. Glaston assigns variable overhead at a rate of $0.80 per unit of production. Fixed overhead equals $144,000 per month. Compute the total budgeted overhead that would appear on the factory overhead budget for month of October.

$331,000.

$144,000.

$149,600.

$300,400.

5.)

A company provided the following direct materials cost information. Compute the cost variance.

Standard costs assigned:
Direct materials standard cost (428,000 units @ $3 / unit)	$1,284,000
Actual costs:
Direct materials cost incurred (426,750 units @ $3.20 / unit)	$1,365,600

$81,600 Unfavorable.

$85,350 Unfavorable.

$85,350 Favorable.

$81,600 Favorable.

$3,750 Favorable.

$293,600.