D Question 17 5 pts Celtic Corporation manufactures high-quality charms. The company sells all the charms It! produces. The process is highly labor-Intensive, so variable overhead costs vary with direct labor hours. Budgeted and actual data for 2015 were: Budgeted Actual Units produced and sold 12,000 11,500 Revenue $960,000 $874,000 Cost of materials $48,000 $51,750 Materials purchased and used 6,000 pounds 6,900 pounds Direct labor costs $240,000 $207,000 Direct labor hours 20,700 24,000 What was the direct materials price variance? O $5,750U $3,750U $3,450F $2,000 U Question 18 5 pts Celtic Corporation manufactures high-quality charms. The company sells all the charms it produces. The process is highly laborIntensive, so variable overhead costs vary with direct labor hours. Budgeted and actual data for 2015 were: Budgeted Actual Units produced and sold 12,000 11,500 Revenue $960,000 $874,000 Cost of materials $48,000 $51,750 Materials purchased and used 6,000 pounds 6,900 pounds Direct labor costs $240,000 $207.000 Direct labor hours 24,000 20,700 What was the direct labor efficiency variance? $23,000F $2,300F $33,000F 50 Question 20 5 pts Mull Company manufactures and sells a single product. Planned and actual production in 2015, Its first year of operation, was 100,000 units. The company sold 85,000 units in 2015, for $30 per unit. Planned and actual total costs in 2015 were: Manufacturing Non-manufacturing Variable $600,000 $500,000 Fixed $400,000 $300,000 Using variable costing, the company's operating Income for 2015 was: $750,000 $975,000 $915,000 $840,000 Question 21 5 pts Lale Enterprises makes cances. The company's plant has a capacity of 1,500 canoes per year. All variable expenses of Lake vary directly with cances sold. The controller has prepared the following financial projection for 2017: Lake Enterprises Financial Projection For yow ended December 31, 2020 Sales (1,000 units @ $100/ unit) $100,000 Cost of goods sold: Direct materials Direct labor $14,000 13,000 10,000 15.200 52.200 Variable manufacturing overhead Fixed manufacturing overhead Gross profit Operating expenses Variable Fixed Operating income 47 800 12.000 24.000 35.000 $11.800 How many cances must Lake Enterprises sell in 2017 in order to break even? 250 902 800 769 Lake Enterprises makes canoes. The company's plant has a capacity of 1,500 canoes per year, All variable expenses of Lake vary directly with cances sold. The controller has prepared the following financial projection for 2017: Lake Enterprises Financial Projection For year anded December 31, 2020 Sales (1,000 units @ $100/ $100,000 unit) Cost of goods sold: Direct materials $14,000 Direct labor 13,000 Variable manufacturing 10,000 overhead Fixed manufacturing ring 15.200 overhead 52200 Gross profit 47,800 Operating expenses Variable 12,000 Fixed 24.000 36.000 Operating income $11.800 By how much may Lake's advertising expense be increased to bring production and sales up to 1,250 canoes and earn a target profit of 15% of sales revenue? + $45,000 $9,550 $5,800 ) 0