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QUESTION 1 Particle Manufacturing Company had the following account balances for the quarter ending March 31: Work-in-process inventory (January 1) $ 140,700 Work-in-process inventory (March 31) 171,000 Finished goods inventory (January 1) 560,000 Finished goods inventory (March 31) 520,000 Materials inventory (January 1) 250,000 Materials inventory (March 31) 400,000 Materials purchased 600,000 Indirect materials used 92,000 Direct manufacturing labor 480,000 Indirect manufacturing labor 180,000 Property taxes on manufacturing plant building 28,800 Salespersons' company vehicle costs 12,000 Depreciation of manufacturing equipment 280,000 Depreciation of office equipment 123,600 Miscellaneous plant overhead 135,000 Plant utilities 92,500 General office expenses 305,400 Marketing distribution costs 30,000 Materials inventory account and materials purchases are for direct materials only. Indirect materials used are not credited to this account. Property taxes are treated as production costs. The direct materials used is the manufacturing overhead is the total COGM is and the total COGS is Do not include commas in your answer. Present $1,000 as $1000.QUESTION 2 Thai's Bicycles and Scooters Store has two service departments, Warehouse and Cleaning. The Warehouse Department costs of $450,000 are allocated on the basis of budgeted warehouse hours. Cleaning Department costs of $150,000 are allocated based on the number of labour hours in each department. The costs of the operating departments Bicycles and Scooters are $350,000 and $300,000, respectively. Data on budgeted warehouse-hours and number of labour hours are as follows: Production Support Departments Departments Warehouse Cleaning Department Department Bicycles Scooters Budgeted costs $450,000 $150,000 $350,000 $300,000 Budgeted warehouse-hours NA 500 1,000 1,500 Number of labour hours 200 NA 800 1,000 What amount is allocated from Warehouse to Bicycles using the direct method? What amount is allocated from Cleaning to Bicycles using the step down method when Warehouse is allocated first? Do not include commas in your answer. Present $1,000 as $1000QUESTION 3 If a company has a degree of operating leverage of 3.0 and sales increase by 35%, all else being equal then: 0 a. total variable costs will not change 0 b. operating profit before tax will increase by 105% O c. operating profit before tax will increase by 140% Q d. total variable costs will increase by 140% The total cost of local telephone calls and the number of local telephone calls for the last six months for Ted were as follows: Month Total cost Total number of local calls November $520 2,875 December 875 $400 January 2,640 February $800 3,000 March 2680 If the high-low method for calculating cost volume prot equation is used, what is the variable cost per call? (round to two decimal places) 0 a. $0.14 0 b. $0.28 0 c. $0.18 0 ct. $0.15 ABC Company produces toy koalas and toy bears. Fixed costs are $1,980,000 per year. Sales revenue and variable costs per unit are as follow (in $): Suppose the company currently sells 140,000 koalas pier year and 60,000 bears per year. Assuming the sales mix Koalas Bears sta s constant, how many koalas Sales price 21 26 and bears Variable costs 9 10 must the company sell to break even per year? (round up to the whole number of toys) (2 marks) 2. How many koalas : and bears ':| must the company sell to make an operating profit of $290,400? (2 marks) 3. What is the profit \\:I if the company sells 300,000 toys (assuming the same sales mix)? (1 mark) Do not use commas for quantities, e.g.1000 and not 1,000. Use $ for values, e.g. $1000 and not $1,000 orjust 1000 What is the appropriate closing journal entry if the ending balance of MOH Control is $32,000, the ending balance of MOH Allocated is $28,000 and your company writes the over/under allocated overhead off to COGS? O a. Dr MOH Control 28,000 Cr MOH Allocated 28,000 O b. Dr MOH Control 28,000 Dr COGS 4,000 Cr MOH Allocated 32,000 O c. Dr MOH Allocated 32,000 Cr MOH Control 28,000 Cr COGS 4,000 O d. Dr MOH Allocated 28,000 Dr COGS 4,000 Cr MOH Control 32,000Which of the following best describes the assignment of costs in a normal costing system to a cost object: O a. trace actual direct materials cost, trace actual direct labour cost, allocate indirect manufacturing overhead based on budgeted overhead rates and actual use of the cost allocation base. 0 b. trace actual direct materials cost, trace budgeted direct labour cost, allocate indirect manufacturing overhead based on budgeted overhead rates and actual use of the cost allocation base. 0 c. trace actual direct materials cost, trace budgeted direct labour cost, allocate indirect manufacturing overhead based on actual overhead rates and actual use of the cost allocation base. 0 d. trace actual direct materials cost, trace actual direct labour cost, allocate indirect manufacturing overhead based on budgeted overhead rates and budgeted use of the cost allocation base for actual output. QUESTION 9 Stone, Inc., budgets the following amounts for its Buildings & Grounds and Computer Services Departments in servicing each other and the two manufacturing divisions of Signs and Mailers: Used By Supplied By Building & Computer Grounds Services Signs Mailers Buildings & Grounds 0.15 0.30 0.55 Computer Services 0.20 0.60 0.20 If you are using the step down method to allocate support department costs which of the support departments would you allocate the costs from first: O a. Mailers O b. Building and Grounds O c. Signs O d. Computer ServicesQUESTION 12 What is the appropriate journal entry if direct materials of $23,000 and indirect materials of $4,000 for a job are sent to the production line? a. Dr Work-in-Process Control 23,000 Cr Materials Control 23,000 b. Dr Work-in-Process Control 27,000 Cr Materials Control 27,000 O c. Dr Work-in-Process Control 23,000 Dr Manufacturing Overhead Control 4,000 Cr Materials Control 27,000 O d. Dr Manufacturing Overhead Control 4,000 Dr Materials Control 23,000 Cr Work-in-Process Control 27,000