Pls I need to know the right way to solve the essay question properly

Question 1- 30 marks (1.5 marks each - suggested time 22 minutes) PLEASE CIRCTE THE CORRECT RESPONSE. UNCLEAR RESPONSES WILL NOT BE GRADED 1, Which of the following is a production cost in an automobile manufacturing company? a. salary of the Chief ExEilrfriiGffi b. secretary ofthe controller's wages (Elariable manufacturing overhead Tifxed selling costs an operational perspective, which is not a decision that unit costs are used to make? hiringa new CEO b. evaluatingperfomance on an ongoing basis o.- ediablishing a price for a product or service d. determining the long-term feasibility of a business stratery S,}Qsr.y Company uses a predetermined rate to apply overhead. At the beginning of the year, Whitney ;={stfu#A its overhead costs at $280,000, direct labour hours at 40,000, and maohine hours at 10,000. Actual -ffirneaa costs incurred were $289,000, actual direct labour hours were 41,000, and actual machine hours were 11,000. .l Suppose the pfed@ryined overheadrate is basedpq-mgchine hgurs. What would be the total amount credited to ihe factory overhtailadiouiit for the year for Wtitrey? f 51ln- q*t *.{ r, 1s*l&*{ a. $240,000 b. $246,000 c. $249,280 0)ro*'ooo ; :l,fi\ (i,,$ r';'t n t?c Zg K lt1?ffi= 6r..r\\ rrw ,*Nf 4. What form requires the job number and the type, quantity, and unit price of direct materials issued? a. time ticket CDrut".iuf s requisition form c. job-order cost sheet d. labour summary sheet 5. Which of the following types of businesses is most likely to use / a job order costing system? /tood ,/ b. cement ( 3}uo"y"t d. chemicals Use the following information to answer questions 6 andT below: At the beginning of the year, Company, Company, Inc. applies overhead on the basiqoftlirect I Inc. estimates overhead to be $540,000, mach-inehijurs to be 150,000, and direct labour hours to be 90,000. During January, Company, Inc. has 8,000 direct labour hours and 12,000 machine hours. 6. Refer to the information above. What is the predetermined overheadtate? $4 per machine hour 4, / *SuPer direct labour hour c. $40,200 5{-c-!g!:' *ilrr'*i: d. $44,000 7. Refer to the information above. What is the overhead applied for January? a. $26,800 / ,b.$40,200 a..$aa,ooo L9$48,ooo 8. What is the term for products having different consumption ratios for different overhead activities? a. volume costing b. activity-based costing iproduct diversity d. overhead diversity A/ /tA Use the following information to answer questions 9 and 10. Andiamo Manufacturing produces two types of tabletsr basic and deluxe. The tablets are produced using one continuous process. Four activities have been identified: machining, setups, receiving and packing. Resource driveis have been used to assign costs to each actjy,ify. The overhead activities, their costs, and the other relatJd data are as follows: ""1-. Ergduct i Machine Hours Setups I Receiving Orders -.-..----- 20,000 basic 2OO 100 deluxe 2_0?q0.0 r 400 _ *" @ -coatts $80;06b- $oo,ooo -ie{^ | Packing Orders 800 2t1tat., 4,0*90- $10,000 $30,000 I n ttAn/ _ d+tl Jt . \\,, 9. Refer to the informatiol above. Suppose Andiamo uses only machine hours to calculate a plantwide overhead rate. What would be the total overhead assigned to tire basic tablets? a. $60,000 b. $80,000 , 6sqo.ooo ;*J dlstso,ooo ( 'iJ" I 'J t: " Ic,ci]'l. x Fl;,tr': 10. Refer to the information above. What is the consumption ratio for setups on the deluxe? vd a. 0.500 b.0.688 {[. o.zoo @.zr+ / I l. The moving activity has an expected cost of $80,000. Expected direct labour hours are 20,000, and the expected number of moves is 40,000. What is the best activity rate for moving? u, $2 per hour ,/ b:'$2 per move \\c. $4 perhour j / i .*1 -- J i lr rl ! *-_* -' I d. $4 per move ,13 7 I costing method can help a company to become more competitive by providing more accurate cost f;"P" y'. unit-based costing ,/ b. volume-based costing c. production costing qfb"tiritr-based costing 13. Which of the following are assigned using direct tracing and resource drivers? ffi:r"ro*"", $@"u. c. profits d. materials 14. Gross margin is to absolption costing as which of the following is to variable cop{ng? .a. gross profit -/".5;, / Oloribution margin c. net income d. territory margin 15. Which inventory cost can include insurance, inventory taxes, and obsolescence? , / ,/ cost Y b. i*re carnrins cost c. the stockout cost d. the setup cost I J .lthe ordering 16. Lauren Company orders 250 units at a time and places 15 orders per year. Total ordering cost is $1,600, and total carrying cost is $1,250. What is the economic order quantity? d. The economic order quantity (EOQ is 250. @n. i.ttfhe economic order quantity (EOQ) is more than 250. economic order quantity (EOQ) is less than 250. d. The economic order quantity (EOQ) is 15. r c-fll r,')t--- 1'.-L't-j x {" " IL\\ rtJ e{:u.$ #C \\ _.. t': s'-& 3/s * 17. CarmelCompany uses 810 units of a part each year. The cost of placing one order is $10; the cost a year is $4. of carrying one unit in inventory for Carmel has decided to begin ordering 60 units at a time. Wirat is the average annual carrying cost of Benton's new policy? "7^! -' ici;'tt. L ri;;.;:.r',,. it#" b. s3o //^ 4.ss " ig$tzo d. i ,8 .'. l, a-') 3l'SZ ':.+1r' i \\*, j'. bu__. sl80 u"'tr, Aw{a-yLdti Tltt't{t /-f '? , 7 d i?x ! ,.1 il6rtoo t-.- J I ut [t j ,"i .i l g1 1, ,*:Lj \\, ( 18. What is the relationship between absorption costing net income and variable costing net income? a. Absorption costing net income exceeds variable costing net income when units produced and sold are equal. ' b. Variable costing net income exceeds absorption costing net income when units produced exceed units sold. c. Absorption costing net income exceeds variable costing net income when units produced are less than units sold. ( d. Absorption costing net income exceeds variable costing net income when units produced are :greater than units sold. 19. Which inventory cost can include processing costs, cost of insurance for shipping, and unloading? / / lG,*" ordering cost b. the carrying cost c. the stockout cost d. the setup cost 20. Which of the following is NOT a traditional reason for carrying inventory? a. to satisff customer demand to avoidshutting down manufacturing facilities @to support a reliable production process )Ll : " ::t_::. d.,fo hedge against future price increases -bl-cnl= I f t'S = z4a tb S, /zo 3lu ",7 {.- i Question 2 - 25 marks - suggested time 1g minutes Valley Water Slides makes custom water slides for hotels. On September l, three jobs were in process: Jobs 812, 813, and 814. Two more jobs, Jobs 815 and 816, were started during September. By S{itember 3piJobs 812,814, and 816 were finished. The following data were collected: 8.12 Job 813 $61s $830 750 235 420 1.2 115 Job 9/1 Balance Direct Materials Direct Labour Job 814 94s Job 815 Job 816 1,290 560 $200 $9ls 320 875 $ Overhead is applied at the rate of p_O% of direct labourcost. Jobs are sold at co,st plus 60%. Selling and administrative expenses for Septembei totalled $2,950. By Septembii 30, Jobs iiti *".e gl6 are sold, but the customer who ordered Job 814 cancelled the order so the slide is still in the warehouse. A. what is the ending balance in work in process B. of sfntembel g0? (14 marks) as Suppose the beginning balance of finished goods was $0. What is the ending balance of finished goods? (4 marks) C. What is the selling price of Job 816? (3 marks) marks) D. What is the cost of goo/b. sold for SeptOrnber? (4 r ', 1 r-; a;''t[{_il_i- : Jd' t& '1 pF 3li_.ry:{6 Brlrr.,nlbntanq +6\\g t BgO f,t: +t; +31{y: -liL J'i| I :ir,' \\ 2et, ,{tir Ll,.t -; L ,, L+z,i : r* 5bu ixg i i 'i ' i2s S ,'. 14. ,.,fu i .., . i...lu a .ai ai \\ t-i d- ') !,i tu/u \\" 1{ 1 ;'I l:-; ' '-{ i *;' rl ,/ 2 ii- .^ I L{ ! ,') r--A ','. , u\\ -l \\ 'l "i 6\\- cV-el" * :r q, '.. , S,s'&"5flo lf ,, t ob Question 2 continued l' + 7.a4o- xo /j ASAN tx rr, Question 3 - 20 marks - suggested time {5 minutes Lauren's Volleyball Company produces two types of volleyballs: Volleylite and Official Game. Both products pass through two producing departments. The Official Game production is much more labourintensive than the Volleylite. The Volleylite is also more popular. The following data have been gathered for the two products: Product Data Official Game .,,.rUtrits produced per year ..r- : i.- Machine hours ^:{.!L' Packing orders 20,000 200,000 40,000 30,000 10,000 t 30,000 Lauren's Volleyball has decided to used activity-based costing and has developed two types of activities, machine related (based on machine hours), and other overhead (based on packing orders). Machinerelated costs equal $160,000. Other overhead costs equal 9240,000. c14l G_ame. (7 B. marks) i,*','.: :,; lc*q." il , t:. o" - (/ marks) Using the two aotivity rates, calculate the overhead cost per unit for Volleylite C. ,i".,,5q'; 1 et' +;'- :.til .\\."'. Gt