Assume the following Information for a merchandising company: Sales $500, 000 Variable selling expenses $ 25,000 Net operating income $ 30,000 Fixed administrative expenses $ 50,000 Fixed selling expenses $ 40,000 Variable administrative expenses $ 5,000 What is the cost of goods sold? Multiple Choice O $300,000 O $320,000 O $380,000 O $350,000Assume a company has two manufacturing departments - Assembly and Fabrication. The company considers all of its manufacturing overhead costs to be fixed costs. The first set of data below is budgeted data for the company as a whole that was estimated at the beginning of the year. The second set of data below is actual data for the company as a whole that was derived at the end of the year. The third set of data relates to one particular Job completed during the year- Job Z. Budgeted Data Assembly Fabrication Manufacturing overhead costs $ 300, 090 $ 400, 000 Direct labor hours 25, 006 15, 000 Machine hours 10,000 50, 000 Actual Data Assembly Fabrication Manufacturing overhead costs $ 330, 000 $ 380, 000 Direct labor hours 27, 090 16, 000 Machine hours 10,500 48 ,000 Job Z Assembly Fabrication Direct labor hours 10 hours 2 hours Machine hours 1 hour 7 hours Assume the company uses departmental predetermined overhead rates. It uses direct labor-hours as the allocation base In Assembly and machine-hours as the allocation base In Fabrication. What is the predetermined overhead rate In the Fabrication Department? Multiple Choice O $7.92 O $8.00 O $7.60 O $8.60Assume a company reported the following Information for this year: Budgeted (estimated) production 80,000 units Budgeted sales 80,000 units Production capacity 100, 090 units Selling price 50 per unit Variable manufacturing cost 18 per unit Estimated total manufacturing overhead cost (all fixed) $700, 090 Selling and administrative expenses (all fixed) $250, 000 Beginning inventories $ Using a predetermined overhead rate based on capacity with "units produced" as the allocation base, the company's plantwide predetermined overhead rate is closest to: Multiple Choice O $9.50 O $7.00 O $11.88 O $8.75