1. Green Company's costs for the month of August were as follows: direct materials, $27,000; direct labour, $34,000; sales salaries, $14,000; indirect labour, $10,000; indirect materials, $15,000; general corporate administrative cost, $12,000; taxes on manufacturing facility, $2,000; and rent on factory, $17,000. The beginning work in process inventory was $16,000 and the ending work in process inventory was $9,000. What was the cost of goods manufactured for the month?
2. Mallet Company had only Job 844 in process on March 1 of the current year. The job had been charged with $2,000 of direct material cost, $2,500 of direct labour cost, and $1,750 of manufacturing overhead cost. The company assigns overhead cost to jobs at a predetermined rate of 70% of direct labour cost. Any underapplied or overapplied overhead cost is closed to Cost of Goods Sold at the end of the month.

During March, the following activity and amounts were recorded by the company:

Raw materials (all direct materials):

Purchased during the month

$29,500

Used in production

$30,500

Labour:

Direct labour hours worked during the month

2,500

Direct labour cost incurred

$26,500

Indirect labour costs incurred

$5,500

Manufacturing overhead costs incurred (total)

$18,500

Inventories:

Raw materials (all direct) March 31

$7,500

Work in process, March 31

$14,500

Work in process inventory contained $5,500 of direct labour cost.

a. The amount of direct materials cost in the March 31 work in process inventory account was how much?

b. Calculate the cost of goods manufactured for March.

c. What is the entry to dispose of the underapplied or overapplied overhead cost for the month?

d. The balance in the March 1 Raw Materials inventory was how high?

3.A comparative income statement for Jimbob Co., a merchandising company, for the three months ended June is presented below.

Jimbob Co. Comparative Income Statement For the Second Quarter

April

May

June

Sales in units

4,500- april

5,250- may

6,000- june

Sales revenue

$630,000- april

$735,000- may

$840,000- june

Less cost of goods sold

252,000- april

294,000- may

336,000-june

Gross Margin

378,000- april

441,000-may

504,000-june

Less operating expenses:

Shipping expense

56,000- april

63,500- may

71,000- june

Advertising expense

70,000- april

70,000 - may

70,000- june

Salaries and commissions

143,000- april

161,750- may

180,500 - june

Insurance expense

9,000- april

9,000- may

9,000- june

Depreciation expense

42,000-april

42,000- may

42,000- june

Total operating expenses

320,000- april

346,250- may

372,500- june

Net income

$58,000 - april

$94,750- may

$131,500-june

a. What is the best estimate of the company's variable operating expenses per unit?

b. What is the best estimate of the company's total fixed operating expenses per month?

c. What is the company's contribution margin for the quarter?

4.Utopia Corporation has budgeted the following data:

Expected sales

$600,000

Variable expenses

420,000

Fixed expenses

120,000

What is the break-even in sales dollar

5.You are given the following data on a company's three products:

ProductMini Regular Expert

Expected sales (units) 400 500 50

Salesprice $200 $500 $3,000

Variable cost $100 $200 $800

The company has annual fixed costs of $200,000.

a. Compute the company's expected profit (net income) for the upcoming fiscal period.

b. Assuming a consistent sales mix, how many units of each product type must the company sell to break even?

c. Assuming a consistent sales mix, if the company wishes to earn net income of $300,000, how many units of each product type must be sold?

d. Compute the margin of safety in both dollar and percentage terms