Mimosa, Inc., a merchandising company, has the following budgeted figures: Feb Mar April $63,000 $88,000 $94,000 Jan Sales $54,900 Cost of goods sold 60% of sales Required ending inventory $20,000 + 30% of next month's sales Inventory on hand on Jan $27,500 1 Calculate cost of goods sold for the month of February. A. $37,800 B. $18,900 C. $44,340 D. $32,940 Based on the following, what is the total manufacturing overhead variance for the total product cost flexible budget variance? Total Product Cost Flexible Budget Variance (a) Total Direct Materials Variance Total Direct Labor Variance Total Manufacturing Overhead Variance (b) (c) (d) Direct Direct Direct Materials Materials Direct Labor Labor Total Variable Total Fixed Cost Efficiency Efficiency Variance Variance Cost Variance Variance Overhead Variance Overhead Variance $300 F $150 U $450 U $500 F Variable Overhead Variable Overhead Fixed Overhead Cost Variance Efficiency Variance Cost Variance $350 U $425 F $650 F A. $725 U B. $725 F C. $425 F D. $350 U Abbott Company is a price-taker and uses target pricing. The company has just done an analysis of its revenues, costs, and desired profits and has calculated its target full product cost. Assume all products produced are sold. Refer to the following information: Target full product cost Actual fixed cost Actual variable cost Production volume $500,000 per year $260,000 per year $2 per unit 151,000 units per year Actual costs are currently higher than target full product cost. Assuming that fixed costs cannot be reduced, what are the target total variable costs? A. $302,000 B. $500,000 C. $240,000 D. $260,000