41 and 42 is based on the following manufacturing data: Beginning Ending Direct material inventory 90,000 110,000 Work-in progress inventory180,000 120,000 Finished goods inventory 300,000 400,000 Purchased direct material 300,000 Direct labor 170,000 Factory overhead 190,000 Net sales 1,000,000 Period cost 280,000 41. What is cost of goods manufactured? A. 640,000 B. 700,000 C. 820,000 D. Insufficient information to determine cost of goods manufactured E. None of all above 42. What is the net profit? A. 120,000 B. 180,000 C. 300,000 D. Insufficient information to determine the gross profit E. None of all above 43. Which of the following statements describes variable cost? A. This cost increases in direct proportion to increases in volume; its amount is constant for each unit produced B. This cost is the combined amount of all the other costs C. This cost remains constant overall volume levels within the productive capacity for the planning period D. This cost increases when volume increases, but the increase is not constant for each unit produced E. None of all above 44. Which of the following statement is not true about the fixed cost? A. The total fixed costs are remain same regardless the number of products are produced. B. The fixed costs per unit produced are increase when more products are produced. C. Depreciation of factory equipment expense is one of the examples of fixed costs. D. The mixed costs remain the same over the unit produced can be categorized as fixed costs. E. None of all above 45. What is contribution margin? A. The excess of sales revenues over fixed cost B. The excess of variables cost over sales revenues C. The excess of sales revenues over variables cost D. The ratio of sales revenues over variables cost E. None of all above