Q1. Various cost and sales data for Mitwalli Company for the just completed year appear in the worksheet below: Finished good inventory beginning Finished good inventory ending Administratove Expenses Manufacuring Overhead Purchase of raw materials Raw materials Inventory, beginning Raw materials Inventory, ending Direct Labor Work in process inventory, beginning Work in process inventory, ending Sales Selling Expenses 25,000 45,000 104,000 140,000 125,000 19,000 16,000 65,000 27,000 12,000 780,000 82,000 Find: 1. Direct Material used? 2. Cost of Goods available for sale? 3. Prepare an income statement for the company. Q2. An Industrial Engineer is trying to study the relationship between the average stock in the warehouse and the total inventory cost. She collected the following data: Month June July August September Average stock | Total warehouse level (units) cost ($) 17500 42,000 19000 44,300 16500 40,000 14200 37,430 1. Using the high-low method, estimate a cost formula between the average stock level and the total warehouse cost. 2. Estimate the cost during October if the average stock of last year was 13500 units. 3. If at October this year, the total warehouse cost was equal to 26,650. What would have the average stock level inventory been? Q3. Given the following contribution margin income statement Sales (15000 units 35 $/unit) 525,000 Variable Cost: Production 22.5 $/unit 337,500 Selling Expenses 1.5 $/unit 22,500 360,000 Contribution Margin 165,000 Fixed Cost Manufacturing 55,000 Selling and Administrative 78,000 133,000 Net Operating Income 32,000 What is the effect on the Nol in the following Scenarios? 1. An increase in Selling VC by 30% per unit. 2. Decreasing the Selling price to 34.5 and generating 1500 more sold units. 3. Modifying the machine that would cost an extra $40,000 in Manufacturing Overhead, meanwhile improving the efficiency and reducing the production variable cost by $2.5 / unit. 4. Apply Scenarios 1,2 and 3 together, redo the income statement. Q4. A company assigns overhead cost to completed jobs on the basis of 125% of direct labor cost. The job cost sheet for Job 313 shows that $10,000 in direct materials has been used on the job and that $12,000 in direct labor cost has been incurred. A total of 1,000 units were produced in Job 313. What is the unit product cost for Job 313