1. Huzaifas Company produces and sells a single product - cricket bat. Selected costs and operating data relating to the product are given below for the year ended 2017.Opening Inventory 5,000 units, selling price $45, total sales 40,000 units. Variable costs per unit: DM $7, DL $5, MOH $3, selling and admin expense is 40% of Direct labor. Fixed MOH $5 per unit. Total fixed selling and admin expense ratio is 0.875:1 to total fixed manufacturing overhead. The companys total production is seven times to its opening inventory. COGS UBDER VC AND ABS WOULD BE? *

1. VC $680,000, ABS $880,000;
2. VC $600,000, ABS $800,000;
3. VC $175,000, ABS $233,125;

2. Huzaifas Company produces and sells a single product - cricket bat. Selected costs and operating data relating to the product are given below for the year ended 2017.Opening Inventory 5,000 units, selling price $45, total sales 40,000 units. Variable costs per unit: DM $7, DL $5, MOH $3, selling and admin expense is 40% of Direct labor. Fixed MOH $5 per unit. Total fixed selling and admin expense ratio is 0.875:1 to total fixed manufacturing overhead. The companys total production is seven times to its opening inventory. TOTAL VAIABLE COST UNDER VC AND ABS COST? *

1. VC $600,000, ABS $800,000;
2. VC $833,125, ABS $800,000;
3. VC $680,000, ABS $880,000;
4. NONE OF THE ABOVE

3. Huzaifas Company produces and sells a single product - cricket bat. Selected costs and operating data relating to the product are given below for the year ended 2017. Opening Inventory 5,000 units, selling price $45, total sales 40,000 units. Variable costs per unit: DM $7, DL $5, MOH $3, selling and admin expense is 40% of Direct labor. Fixed MOH $5 per unit. Total fixed selling and admin expense ratio is 0.875:1 to total fixed manufacturing overhead. The companys total production is seven times to its opening inventory. VC AND ABS PRODUCT COST PER UNIT? *

1. VC $15, ABS $20

b. VC $12, ABS $17;

c. VC $20, ABS $15;

d. VC $30, ABS $15;

4. Huzaifas Company produces and sells a single product - cricket bat. Selected costs and operating data relating to the product are given below for the year ended 2017.Opening Inventory 5,000 units, selling price $45, total sales 40,000 units. Variable costs per unit: DM $7, DL $5, MOH $3, selling and admin expense is 40% of Direct labor. Fixed MOH $5 per unit. Total fixed selling and admin expense ratio is 0.875:1 to total fixed manufacturing overhead. The companys total production is seven times to its opening inventory. TOTAL FIXED COST UNDER VC AND ABS? *

1. VC $328125, ABS $153125;
2. VC $600,000, ABS $800,000
3. VC $175,000, ABS $ 80,000;
4. VC $791875, ABS $766875;

5. Huzaifas Company produces and sells a single product - cricket bat. Selected costs and operating data relating to the product are given below for the year ended 2017.Opening Inventory 5,000 units, selling price $45, total sales 40,000 units. Variable costs per unit: DM $7, DL $5, MOH $3, selling and admin expense is 40% of Direct labor. Fixed MOH $5 per unit. Total fixed selling and admin expense ratio is 0.875:1 to total fixed manufacturing overhead. The companys total production is seven times to its opening inventory. CM UNDER VC AND GROSS MARGIN UNDER ABS? *

1. VC $1,120,000, ABS $1,000,000;

b. VC $1,800,000 ABS $ 800,000;

c. VC $791,875, ABS $766,875

d. VC $800,000 ABS $1,000,000