1.mike Ltd makes a profit of $500,000, calculated under variable costing.mike has a constant fixed manufacturing cost per unit of $70, with both opening and closing inventory being 1,000 units. What is the profit calculated using absorption costing?

Select one:

$430,000

$570,000

$600,000

$500,000

2.Rocky Ltd makes a profit of $200,000, calculated under variable costing.Rocky has a constant fixed manufacturing cost per unit of $4, opening inventory of 5,000 units and closing inventory of 4,000 units. What is the profit calculated using absorption costing?

Select one:

$200,000

$204,000

$196,000

$210,000

3.calculate the direct labour rate variance:

Direct labour cost standard: 5 hours @ $7.50 per hour

Actual results:

7800 units were produced.

Direct labour40 100 hours @ $7.30 = $292 730

Select one:

$8020 (F)

$8250 (F)

$8000 (U)

$8010(F)