Marsden manufactures a cat food product called Special Export. Marsden currently has 10,000 bags of Special Export on hand. The variable production costs per bag are $1.80 and total fixed costs are $10,000. The cat food can be sold as it is for $9 per bag or be processed further into 34. Prime Cat Food and Feline Surprise at an additional $2,000 cost. The additional processing will yield 10,000 bags of Prime Cat Food and 3,000 bags of Feline Surprise, which can be sold for $8 and $6 per bag, respectively The net advantage (incremental income) of processing Special Export further into Prime and Feline Surprise would be: a) b) $96,000 c) $8,000 d) $2,000 e) $98,000 $6,000 If you have an ending debit balance of $1000 in the Factory Overhead account after applying $20,000 of overhead to Goods in Process, which of the following is true? 35. a) You have under applied by $1000 b) You have under applied by $20,000 c) You have over applied by $1000 d) You have over applied by $20,000 e) Cannot say from the information given 36. Midwest Rocks receives and produces an order. What is the company's cycle time assuming the following times were measured during production of this order? Process time: 7 days Inspection time: 25 days Move time: 1.05 days Wait time: .5 days a) 1.8 days b) 7 days c) 95 days d) 2 days e) 2.5 days Calculate cost of goods sold when beginning finished goods inventory equals $55,000, ending finished goods inventory $45,000, and cost of goods manufactured $800,000, 37. a) $680,000 b) $790,000 c) $735,000 d) $810,00o e) None of the above 38. A company had a $56,000 unfavorable direct material quantity variance during a time period when the standard price per pound of direct material was $7 and the actual price per pound of direct material was $7.50. If the standard quantity of direct material allowed for production was 52,000 pounds, how many pounds of direct material were actually used during this period? a) 60,000 pounds b) 44,000 pounds c) 56,000 pounds d) 364,000 pounds e) 420,000 pound:s