A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (10,000 units): Direct materials $ 80,000 Direct labor 120,000 Variable factory overhead 140,000 Fixed factory overhead 40,000 $380,000 Operating expenses: Variable operating expenses $ 65,000 Fixed operating expenses 25,000 90,000 If 1,000 units remain unsold at the end of the month, what is the amount of inventory that would be reported on the absorption costing balance sheet? Question 7 options: $38,000 $40,500 $34,000 $47,000 A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (20,000 units): Direct materials $180,000 Direct labor 240,000 Variable factory overhead 280,000 Fixed factory overhead 100,000 $800,000 Operating expenses: Variable operating expenses $130,000 Fixed operating expenses 50,000 180,000 If 1,500 units remain unsold at the end of the month, what is the amount of inventory that would be reported on the variable costing balance sheet? Question 8 options: a $62,500 b $73,500 c $60,000 d $52,500 It would be acceptable to have the selling price of a product just above the variable costs and expenses of making and selling it in: Question 9 options: a the long run b the short run c both the short run and long run d monopoly situations Costs that can be influenced by management at a specific level of management are called: Question 10 options: a direct costs. b indirect costs. c noncontrollable costs. d controllable costs. Management will use both variable and absorption costing in all of the following activities except: Question 11 options: a controlling costs b product pricing c production planning d controlling inventory levels