1)Jones Corp. reported current assets of $199,000 and current liabilities of $140,000 on its most recent balance sheet. The working capital is:

Multiple Choice

142%.

70%.

($59,000).

$59,000.

42%.

2) Zhang Company reported Cost of goods sold of $855,000, beginning Inventory of $41,200 and ending Inventory of $48,300. The average Inventory amount is:

Multiple Choice

$41,200.

$48,300.

$89,500.

$44,750.

$7,100.

3) Carducci Corporation reported Net sales of $3.55 million and beginning Total assets of $0.95 million and ending Total assets of $1.35 million. The average Total asset amount is:

Multiple Choice

$2.20 million.

$2.60 million.

$0.27 million.

$0.35 million.

$1.15 million.

4) A corporation reported cash of $15,700 and total assets of $180,000 on its balance sheet. Its common-size percent for cash equals:

Multiple Choice

Top of Form

11.46%.

8.72%.

20.34%.

13.62%.

6.72%.

Bottom of Form

5) Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 common size percentages for operating expenses using Net sales as the base.

	2017			2016
Net sales	$	341,800		$	282,600
Cost of goods sold		169,900			131,150
Operating expenses		61,840			59,600
Net earnings		31,180			22,180

Multiple Choice

Top of Form

31.6% for 2017 and 25.3% for 2016.

18.1% for 2017 and 21.1% for 2016.

49.7% for 2017 and 46.4% for 2016.

21.9% for 2017 and 16.9% for 2016.

121.0% for 2017 and 100.0% for 2016.

6)Using the information below for Sundar Company; determine the cost of goods manufactured during the current year:

Direct materials used	$	20,100
Direct labor used		25,600
Factory overhead		49,600
Beginning work in process		11,800
Ending work in process		12,400

Multiple Choice

Top of Form

$95,300.

$45,700.

$94,700.

$45,100.

$74,600.

7)Using the information below for Laurels Company; determine the manufacturing costs added during the current year:

Direct materials used	$	6,400
Direct Labor		8,400
Total Factory overhead		6,500
Beginning work in process		4,400
Ending work in process		6,800

Multiple Choice

Top of Form

$18,900.

$17,800.

$23,700.

$14,800.

$21,300

8)Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year:

Work in Process, January 1	$	51,400
Work in Process, December 31		37,700
Total Factory overhead		6,200
Direct materials used		13,200
Direct labor used		27,200

Multiple Choice

Top of Form

$60,300.

$98,000.

$54,100.

$46,600.

$13,700.

Bottom of Form

9)Current information for the Healey Company follows:

Beginning raw materials inventory	$	15,100
Raw material purchases		59,000
Ending raw materials inventory		16,500
Beginning work in process inventory		22,300
Ending work in process inventory		27,900
Direct labor		42,300
Total factory overhead		29,900

All raw materials used were traceable to specific units of product. Healey Company's total manufacturing costs for the year are:

Multiple Choice

Top of Form

$124,200.

$132,600.

$129,800.

$135,400.

$137,700.Bottom of Form

10) The following information relates to the manufacturing operations of the Abbra Publishing Company for the year:

	Beginning			Ending
Raw materials inventory	$	564,000		$	627,000

The raw materials used in manufacturing during the year totaled $1,103,000. Raw materials purchased during the year amount to:

Multiple Choice

Top of Form

$1,040,000.

$977,000.

$1,667,000.

$476,000.

$1,166,000.