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i need help with 2,4,5,6 Question 2 (2 points) ABC Company tracks closely its direct material and direct labor costs of its products, and always

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Question 2 (2 points) ABC Company tracks closely its direct material and direct labor costs of its products, and always sets its prices at three times the cost of direct material and direct labor. Which of the following is true? The company will have a positive net operating income. The company may not be covering all of its product costs. The company will have a positive contribution margin. The company always sets its prices above product costs. Question 4 (2 points) Job cost sheets include all of the following except O Direct Labor used in the job Applied Manufacturing overhead Direct Materials used in the job Actual Manufacturing overhead caused by the job Question 5 (2 points) ABC Company has $100,000 of goods ready for sale to its customers, but its total inventory value is $120,000. Explain why these two numbers are different from each other. The company has obsolete inventory of $20,000. The company also has $20,000 in confirmed orders from customers. The company also has $20,000 in purchase orders outstanding at suppliers. The company also has $20,000 in raw material inventory and work in process inventory. Question 6 (2 points) Job 234 is begun and $400 of direct materials are requisitioned for it. Which of the following accounts are affected by this transaction? Work in Process Inventory and Finished Goods Inventory Work-in Process Inventory and Manufacturing Overhead Raw Material Inventory and Work in Process Inventory Accounts payable and Raw Material Inventory Previous Page Next Page Page

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