i have 45 mins left in the quiz could u help im i am stuck with this 4 question thank you so much i really appreciated it

1) Mount Horeb Products PLC is a manufacturer of house hold furniture. The company's accountant has presented you the following inventory balances for the month of July 2020. Total manufacturing costs for the month were $12,000. Your task is to calculate the cost of goods sold for the month of July.

Inventories	Opening	Closing
Materials	$100	$140
Work in process	$280	$160
Finished goods	$1,200	$1,500

2) Mernda Superior Products (MSP) is a manufacturing business located in Victoria. The company designs and assembles quality furniture that is sold at premium price. MSP Store has currently signed a contract to retail its products through various distributors. Customers of MSP are located throughout Victoria. Seventy percent of sales are collected in the month of sales while the remaining thirty percent are collected in the first month following sales. Purchases are normally paid off in cash in the month of purchases. MSP has never missed a discount of 2% on purchases. Other monthly cash expenses for operating costs (other than purchases) are $20,500. Data regarding purchases and sales for four months of 2021 are given below.

Month	Purchases	Sales Revenue
January	$40,000	$ 98,000
February	$46,000	$105,000
March	$54,000	$116,000
April	$52,000	$124,000

1. Calculate the total cash collections for the month of March.(2.5 marks)

2. Determine the amount of cash payments in the month of March.(2.5 marks)

3) You have applied for a casual accounting job in a small manufacturing company during the term break. The company's financial accountant has invited you for an interview and presented you with a list of cost items. Your task is to classify the following list of costs on the basis of the options given below. The response given by interviewees' will be used to assess suitability for the job and to evaluate their knowledge of cost concepts and classifications.

List of costs:

1.	Wood needed for manufacturing furniture.
2.	Sales commissions paid to sales agents during the month.
3.	Depreciation on equipment used by the sales agents.
4.	Hourly wages of cleaners that clean the whole company on daily basis.
5.	Monthly cost of utilities and insurance for the factory.

Required: Classify the above list of costs using the following three methods. Please use the table in the response template to write you r answers. (5 marks)

(i)The item is classified as: Manufacturing or Non-manufacturing

(ii)Type of cost is: R&D cost, Design, Supply, Direct material, Direct labour, Manufacturing overhead, Marketing, Distribution, or Customer service

(iii) The behavior of cost is: Variable cost, Mixed cost or Fixed cost

please fill in the table

Cost item	(i)	(ii)	(iii)
1. Wood
2. Sales commissions
3. Depreciation of Sales Equipment
4. Hourly wages of cleaners
5. Utilities and insurance of the factory

4)

Michael Paul, a small service firm, uses the high-low method to estimate electricity cost, which varies in relation to machine hours as follows:

Month	Machine hours	Electricity expense
May	110	$2,750
June	116	$2,900
July	105	$2,650
August	140	$3,350

Required:

1. Using the high-low method identify the month that represents:

(a) the highest point and(0.5 mark)

(b) the lowest point(0.5 mark)

2. Calculate the following:

(a) The variable cost rate per machine hour of electricity(1.5 mark)

(b) The total fixed cost per month (1.5 mark)

3. Write the cost formula for Michael Paul. Using the cost formula, calculate the total electricity cost assuming the plant plans to use 200 machine hours in June. (1 mark)