Barron Company provided the following information on selected transactions during 2010:

Purchase of land $200,000

Purchase of short-term investment 125,000

Retirement of bonds payable 150,000

Payment of cash dividends 25,000

Sale of land 150,000

Sale of equipment 30,000

Sale of common shares 300,000

The net cash provided (used) by investing activities during 2010 is

Question 6 options:

	a. $(145,000)
	b. $(45,000)
	c. $(20,000)
	d. $155,000
	e. $180,000

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Question 7 (1 point)

Each tool manufactured by Allen Corp. requires one direct labor hour (DLH) of assembly at $9 per DLH. Allen applies overhead at a rate of 20% of total direct material costs. Allens direct material cost fluctuates by volume as follows:

0 units 1,000 units $2.00 per unit

1,001 units 2,000 units $1.80 per unit

Above 2,000 units $1.60 per unit

If Allen produced 3,500 tools in 2010, what is the total cost of 2010 production?

Question 7 options:

	a. $32,844
	$37,100
	$38,940
	d. $39,060
	e. $56,700

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Question 8 (1 point)

K Inc. sells a single product that has the following production per unit costs: direct material, $15; direct labor, $4; variable overhead, $6; and fixed overhead, $2. The fixed overhead cost was calculated using 100,000 units of annual sales and production. Selling costs are $1 per unit and $179,200 of fixed costs. Ks product sells for $50 per unit. If K Inc. wants to earn a pre-tax profit of $62,544, how many units must be sold?

Question 8 options:

	a. 14,858
	b. 17,664
	c. 18,406
	d. 20,073
	e. 21,670