FOL Quizzes - ACCT7007 Managemer X Course Hero X + - X C A fanshaweonline.ca/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d21?ou=1219443&isprv=&drc=08qi=765055&cfql=08dnb=0&fromQB=0 M Quiz #3 X Time Limit: 2:00:00 Time Left:1:03:42 Meet Shah: Attempt 1 Page 1: 3 Samson Inc. expects to sell 10,000 barbells for $18.00 each. Direct materials costs are $5.00, direct manufacturing labour is $6.00, and manufacturing overhead is $2.50 per barbell. Each barbell requires 6 kilograms (kg) of material which is all added at the start of production. The units in work-in-process beginning and ending inventory were half complete as to direct labour and manufacturing overhead costs; the units in beginning inventory are completed before new units are started.. Each barbell requires one-quarter hour of direct labour, and manufacturing overhead is allocated based on direct labour hours. Marketing costs are $2.00 per barbell. The following inventory levels are expected to apply to 2016: 10 Beginning Ending inventory inventory Direct materials 500 kg 800 ke Work-in-process inventory 100 units 200 units Finished goods niventory 200 units 150 units On the 2016 budgeted income statement, what amount will be reported for gross margin? O 1) $45,000 O 2) $70,000 ( 3) $25,000 ( 4) $40,000 ( 5) $35,000 Question 8 (1 point) Listen Mannock Company budgeted $400,000 for employee training, but actually spent Type here to search 1:08 PM 9 10/24/2021