M h http//ezto mheducat Id Preview |Clip Auto Cfp | HP Games, TripAdvisor D Clip List canon Easy-WebPrint Ex- Print ] Arnar com . Online Sh-HP-See What's Hot-e Use the following information to answer questions 42 44 [The following nlormaton applies to the questions displayed below Huron Chalk Compeny menufactures sidewelk chek which it sells online by the box at $23 per unit. Huron uses an actual costing system, which means that the actual costs of direct materiel, direct labor, and menufacturing overheod are entered into work-in-process inventory. The actual application rate for manufacturing overheed is computed each year, actual manufacturing overhead is divided by ectual production in units) to compute the application rece. Information for Huron's frst two years of operetions is as follows Sales (in units) Production on unats) Production costs Yeer 1 Year 2 2,600 2,600 3,000 2200 Variable manufacturing costs Ftxed manufacturing overhead $ 11700 $ 8,580 14,700 14,700 Selling and administrative expenses: Variable Fixed 10,400 10,400 9,400 9,400 Selected information from Huron's year-end balance sheets for its fierst two years of operation is as follows HURON CHALK COMPANY Selected Balance Sheet Informetion Based on absorption costing End of Year 1 End of Year 2 $3,520 $ 0 11,620 22.120 Retained earnings Based on veriable costing Firnished-goods inventory Retained earnings End of Yeer 1 End of Year 2 1560 $ 0 9.660 22.120