double checking for the A! Thanks!!!!
24. Sullivan Corporation, a company that produces and sells a single product, has provided its contribution format income statement for November. Assume all is within relevant range. Sales {5,700 units} 5; 319,200 Variable expenses 188,100 Contribution margin 131,100 Fixed expenses 106,500 Net operating income $ 24,600 lfthe company.F sells 5,300 units, its net operating income should be closest to: A) $24,600 B) $2,200 C) $22,810! D} $15,400 25. Meade Inc., a company that produces and sells a single product, has provided its contribution format income statement for January. Assume all is within relevant range. Sales {4,200 units) $ 155,400 Variable expenses 100,300 Contribution margin 54,600 Fixed expenses 42,400 Net operating income $ 12,200 If the company,r sells 4.600 units, its total contribution margin should be closest to: A) $54,600 B) 359,800 C) $69,400 D} $13,362 26. Keala Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales {3,000 units} S 180,000 Variable expenses 108,000 Contribution margin T2,000 Fixed expenses 62,400 Net operating income $ 9,600 The contribution margin ratio is closest to: A) 67% B) 40% C) 33% D) 60% 2T. Nguyen Corporation has provided the following contribution format income statement. Assume that the following information is Within the relevant range. Sales {3,000 units} 3" 120,000 Variable expenses 90,000 Contribution margin 30,000 Fixed expenses 21,000 Net operating income $ 9,000 If sales decline to 2,900 units, the net operating income would be closest to: A} $29,000 B) $1,000 C ) $8300 D} $8,000 28. Stockmaster Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (8,000 units} $ 320,000 Variable expenses 192,000 Contribution margin 123,000 Fixed expenses 121,600 Net operating income $ 6,400 The margin of safety in dollars is closest to: A} $6.400 B) $16,000 C) $121,600 D} $128,000 14. Saleh Corporation has two manufacturing deparnnents--Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Molding Finishing Total Estimated total machine-hours (Ml-ls) 4,000 1,000I 5,000 Estimated total xed manufacturing overhead cost 5 19,600 $ 2,400 5 22,000 Estimated variable manufacturing overhead cost perMH S 1.10 $ 2.!0 During the most recent month, the companyr started and completed two jobsJob A and Job M. There were no beginning inventories. Data concerning those twojobs follow: Job A Job M Direct materials 25 13,600 $ 7,500 Direct labor cost $ 20,700 $ 7,400 Molding machine-hours 2,700 1,300 Finishing machine~hours 400 600 Assume that the company uses a piantwide predetennined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated Selling price for Job A is closest to: A) $51,970 B) $72,753 C) $80,034 D) $20,733 15. Navarrete Camero Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 70,000 Total fixed manufacturing overhead cost $ 294,000 Variable manufacturing overhead per machine-hour $ 2.30 Recently, Job M825 was completed with the following characteristics: Number of units in the job 20 Total machine-hours 80 Direct materials $ 665 Direct labor cost $ 1,840 The unit product cost for Job M825 is closest to: A) $37.81 B) $59.25 C) $151.25 D) $125.25
