ABC Company has the following expectations related to widget production during the month of March 20XX : - The company expects to have 150,000 widgets in beginning finished goods inventory - The company expects to sell 1,000,000 widgets during the month of March - The company desires to have 100,000 completed widgets in its ending finished goods inventory How many widgets must ABC Company produce during the month of March? 950,0001,000,0001,050,0001,250,000 None of the above XYZ Company is producing gonkulators. The company has the following expectations for gonkulator production during the month of April 20XX : - Each gonkulator will require 5 pounds of materials - Each pound of materials will cost $6.00 to acquire - Each gonkulator will take 4 direct labor hours to produce - Direct laborers who manufacture gonkulators will an average of $17.50 per hour - Overhead will be assigned to all products at a rate of $6.00 per direct labor hour When XYZ prepares its COGS budget for the period, what will the company's projected cost of producing one gonkulator be? $29.50$100$106$124 None of the above The Triple J Company sells Gonkulators: The following information is pertinent to production of these gonkulators: - Each gonkulator sells for $400 - Each gonkulator costs $160 in variable costs to manufacture - Total fixed costs related to gonkulator production are $24,000 - Triple J desires to generate $96,000 worth of operating income from gonkulator sales What is Triple J's contribution margin ratio on gonkulator sales? 14%25%36%50% The following information pertains to ABC Company's production of widgets during December 20XX : - The standard cost of materials was $1.40 per pound - The actual cost of materials was $1.50 per pound - The standard quantity of materials to be used in each widget was 10 pounds - The actual quantity of materials used to produce each widget was 11 pounds - ABC Company produced 10,000 widgets during the month According to this information, what was ABC 's direct materials efficiency variance for the period? $10,000 favorable $10,000 unfavorable $14,000 favorable $14,000 unfavorable None of the above ABC Company uses direct labor costs as its cost driver for allocating overhead to jobs from its manufacturing overhead pool. The following figures pertain to the company's budgeted and actual amounts for direct labor and indirect costs - Budgeted indirect costs were $1,000,000 - Actual indirect costs were $1,200,000 - Budgeted direct labor costs were $5,000,000 - Actual direct labor costs paid for production were $4,800,000 During the period, what was ABC Company's predetermined overhead allocation rate for allocating overhead to jobs? 15% of direct labor costs 20% of direct labor costs 25% of direct labor costs 83% of direct labor costs None of the above