A Corporation has 300,000 shares of $10 par common stock issued and outstanding. AA Corporation also has 75,000 shares of $50, 6% par cumulative preferred stock. In 2017, AA had net income of $4,250,000. The number of shares of both common and preferred stock has not changed during the year, and the preferred stock dividends were paid at the end of 2016. What are the common earnings per share (EPS) for 2017? Round to the nearest cent.

$14.17

$10.73

$13.42

$11.33

At the beginning of the year, Bell Corporations balance sheet showed total assets of $14,000,000, and at the end of the year, the total assets had grown to $16,000,000. Bell had net income of $2,000,000 based on sales of $25,350,000. What was the total asset turnover for Bell? Round to two decimal places.

0.18 times

1.69 times

1.87 times

1.54 times

A manufacturing company allocates overhead at a fixed rate of $60 per hour based on direct labor hours. During the month, total overhead incurred was $280,000, and the total direct labor hours work was 4,000. Job number 5-23 had 56 hours of direct labor. What is the amount of overhead allocated to job 5-23?

$3,250

$3,360

$3,500

$3,000

Bargain Discounter Inc. is a merchandiser that had inventory at the beginning of the year of $840,000. It made purchases of $1,550,000 and had returns and allowances on purchases of $50,000. Ending inventory was $880,000. Total cost of goods sold was $1,460,000. What was the goods available for sale amount?

$2,340,000

$1,663,200

$2,550,000

$2,390,000

Ace Widget Company is a process manufacturer. The company budgeted 11,500 direct labor hours but had actual direct labor hours of 12,000. The company produced 60,000 equivalent units, spending $315,000 on material. Labor rate is $14 per hour, and overhead is applied at a rate of $22 per direct labor hour. What is the total manufacturing cost per unit? Round to the closest cent.

$12.33

$13

$12.45

$12.15

The assembly department had beginning work in process of 18,500 units, ending work in process of 22,700 units, and units transferred out of 59,800 units. What was the number of units started or transferred in?

64,000

58,000

62,000

59,800

Cabot Corp. is a job lot manufacturer. The budget for the month of May calls for 7,040 direct labor hours to be worked. Budgeted overhead is $88,000 with a predetermined rate of $12.50 per hour. Overhead is applied based on actual direct hours worked. Actual direct hours were 7,210 and actual overhead spending was $87,000. What was the underapplied or overapplied overhead for the month of May? Overapplied is shown as a negative number.

$(3,400)

$1,000

$3,400

$(2,125)