1. Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:

Total machine-hours30,500Total fixed manufacturing overhead cost$610,000 Variable manufacturing overhead per machine-hour$6.00

Recently, Job T687 was completed with the following characteristics:

Number of units in the job10Total machine-hours30Direct materials$690Direct labor cost$1,370

The total job cost for Job T687 is closest to:

Multiple Choice

A. $2,150

b. $2,060

c. $1,470

d. $2,840

Luebke Inc. has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $70,000 and at the end of the month was $31,800. The cost of goods manufactured for the month was $221,000. The actual manufacturing overhead cost incurred was $60,400 and the manufacturing overhead cost applied to Work in Process was $65,200. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear on the income statement for November is:

Multiple Choice

• $254,400
• $182,800
• $259,200
• $221,000

Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 22,020 hours and the total estimated manufacturing overhead was $550,500. At the end of the year, actual direct labor-hours for the year were 21,800 hours and the actual manufacturing overhead for the year was $550,500. Overhead at the end of the year was:(Round your intermediate calculations to 2 decimal places.)

Multiple Choice

• $5,550 overapplied
• $5,550 underapplied
• $5,500 underapplied
• $5,500 overapplied

At the beginning of the year, manufacturing overhead for the year was estimated to be $1,052,700. At the end of the year, actual direct labor-hours for the year were 36,400 hours, the actual manufacturing overhead for the year was $990,000, and manufacturing overhead for the year was overapplied by $65,600. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:(Round your intermediate calculations to 2 decimal places.)

Multiple Choice

• 34,138 direct labor-hours
• 36,300 direct labor-hours
• 36,400 direct labor-hours
• 31,876 direct labor-hours

Rovinsky Corporation, a company that produces and sells a single product, has provided its contribution format income statement for November.

Sales (6,300 units)$403,200Variable expenses277,200Contribution margin126,000Fixed expenses103,500Net operating income$22,500

If the company sells 6,200 units, its net operating income should be closest to:(Do not round intermediate calculations.)

Brewer 8e Rechecks 2018-06-19

Multiple Choice

• $21,979
• $20,500
• $22,500
• $18,000

Gayne Corporation's contribution margin ratio is 18% and its fixed monthly expenses are $49,000. If the company's sales for a month are $309,000, what is the best estimate of the company's net operating income? Assume that the fixed monthly expenses do not change.

Multiple Choice

• $204,380
• $6,620
• $260,000
• $55,620

Moyas Corporation sells a single product for $20 per unit. Last year, the company's sales revenue was $285,000 and its net operating income was $45,500. If fixed expenses totaled $97,000 for the year, the break-even point in unit sales was:

Multiple Choice

• 14,250 units
• 7,125 units
• 16,525 units
• 9,700 units

Sabv Corporation's break-even-point in sales is $910,000, and its variable expenses are 80% of sales. If the company lost $41,000 last year, sales must have amounted to:

Multiple Choice

• $869,000
• $828,000
• $705,000
• $687,000

Awtis Corporation has a margin of safety percentage of 20% based on its actual sales. The break-even point is $200,000 and the variable expenses are 45% of sales. Given this information, the actual profit is:

Multiple Choice

• $62,500
• $27,500
• $2,500
• $22,000

Ferkil Corporation manufacturers a single product that has a selling price of $30.00 per unit. Fixed expenses total $36,000 per year, and the company must sell 4,000 units to break even. If the company has a target profit of $18,000, sales in units must be:

Multiple Choice

• 5,636 units
• 4,600 units
• 6,000 units
• 5,200 units