Question
1.The following costs were incurred in October: Direct materials $35000 Direct Labor $13000 Manufacturing overhead $15000 Selling expenses $14000 Administrative expenses $30000 Prime costs during
1.The following costs were incurred in October: Direct materials $35000 Direct Labor $13000 Manufacturing overhead $15000 Selling expenses $14000 Administrative expenses $30000 Prime costs during the month totaled to:
Select one:
a.
$107000
b.
$48000
c.
$63000
d.
$28,000
2.
The estimated unit costs for a company to produce and sell a product at a level of 12,000 units per month are as follows:
Cost Item | Estimated Unit Cost |
Direct material | $32 |
Direct labor | 20 |
Variable manufacturing overhead | 15 |
Fixed manufacturing overhead | 6 |
Variable selling expenses | 3 |
Fixed selling expenses | 4 |
What are the estimated conversion costs per unit?
Select one:
a.
$35
b.
$41
c.
$44
d.
$48
3.
You are to receive five gold coins from your great uncle as an incentive to study hard. The coins were originally purchased in 1982. Your great uncle will deliver the coins the week after finals (assuming your grades are "acceptable"). The amount your great uncle paid for the coins is a(n):
Select one:
a.
overhead cost
b.
opportunity cost
c.
marginal cost
d.
indirect cost
e.
sunk cost
4.
Rama Company had the following information:
Budgeted factory overhead $90,000
Actual factory overhead $107,000
Budgeted: Direct-labor costs $100,000
Actual: Direct-labor costs $107,000
The budgeted factory-overhead rate using direct-labor costs as the cost driver is
Select one:
a.
$1.00
b.
$0.90
c.
$0.81
d.
$1.05
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started