27. Based on the data for Harding Company, what is the amount of current assets? a. $203,000 b. $205,000 c. $131,000 d. $66,000 28. A company sells goods for $150,000 that cost $54,000 to manufacture. Which of the following statements is true? a. The company will recognize $96,000 in gross profit on the balance sheet. b. The company will decrease finished goods by $54,000. c. The company will recognize sales on the balance sheet of $150,000. d. The company will increase finished goods by $54,000. 29. The following information is taken from the financial records of Gunner Manufacturing What is the cost of goods manufactured? a. $178,000 b. $142,000 c. $122,000 d. $132,000 What is the cost of goods manufactured? a. $178,000 b. $142,000 c. $122,000 d. $132,000 30. The standard factory overhead rate is $10 per direct labor hour ( $8 for variable factory overhead and \$2 for fixed factory overhead) based on 100% of normal capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows: Standard: 25,000 hours at $10=$250,000 Actual:Variable factory overhead $202,500 Fixed factory overhead $60,000 The variable factory overhead controllable variance is a. \$2,500 unfavorable b. $10,000 favorable c. $2,500 favorable d. $10,000 unfavorable 31. are costs that vary in proportion to changes in the activity base a) Variable Costs b) Fixed Costs 32. Which of the following will decrease cash from financing activities? a. Repayment of long-term note payable b. Amortization of intangible assets c. Increase in income tax payable d. Purchase of equipment