Instructions: in the blue box select the best answer. Q1: For 2020, Sparkman Company has cost of goods manufactured of $500,000, beginning finished goods inventory of $25,000, and ending finished goods inventory of $20,000. How much is cost of goods sold? A) $505,000 B) $495,000 C) $545,000 D) $455,000 Q2: Axe Co.'s management is reviewing financial results for the month of January 2017. The results include, total variable costs of $6,000, total sales of $9,000 and total fixed costs of $4,000 the operating income (loss) for the month of January is: A)($1,000) B) $2,000 C) ($2,000) D) $6,000 Q3: Crane Company has variable costs which are 20% of its unit selling price and fixed costs of $20,000. How many sales will Crane report at its break-even point in dollars? A) $25,000 B) $100,000 C) $4,000 D) $16,000