1.Duncan Manufacturing Company began operations on January 1, 2011. During the year, it started and completed 50 units. Product costs for the period equal: Please advise if letter d is correct 10000+8000+3500= 21500

1)Acquired $30,000 cash by issuing common stock

2)Paid $10,000 for materials.

3)Paid $6,000 for administrative salaries.

4)Paid $8,000 for wages of production workers.

5)Depreciation of office furniture $2,500.

6)Depreciation of manufacturing equipment $3,500.

7)Collected $28,000 in cash for sales of 45 units.

a.$ 30,000.

b.$ 24,500.

c.$ 24,000.

d.$ 21,500.

2.Duncan Manufacturing Company began operations on January 1, 2011. During the year, it started and completed 50 units. The company has the following transactions:

1)Acquired $30,000 cash by issuing common stock.

2)Paid $10,000 for materials.

3)Paid $6,000 for administrative salaries.

4)Paid $8,000 for wages of production workers.

5)Depreciation of office furniture $2,500.

6)Depreciation of manufacturing equipment $3,500.

7)Collected $28,000 in cash for sales of 45 units.

What was gross margin for the period?

please check if this is correct28000-21500+(5*430)= 8650

a.$2,150

b.$8,650

c.$28,000

d.$30,000

3.The manager of TireWorks Manufacturing mistakenly classified a salesperson as a manufacturing employee. The employee was paid $30,000 during the year. As a result of this error. why is it that the Net income will be overstated by $30,000.?

b.Total assets will be overstated by $30,000.

c.Total equity will increase by $30,000.

Total liabilities will increase by $30,000.