QUESTION 1 12 points Save Answer For the following financial statement items, calculate trend percentages using 2016 as the base year. State whether the situation as revealed by the trends appears to be favorable or unfavorable for each year. 2018 2017 2016 Sales $1,193,200 $999 200 $880,000 630.000 $710,300 Cost of sales 539,000 $482.900 360 200 $341,000 Gross profit For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). 11 A . . T QUESTION 2 12 points Save Answer Information for Nika Manufacturing is presented below. Compute both the cost of goods manufactured, and the cost of goods sold for Nikkia Manufacturing, Beginning raw materials inventory $26,600 Beginning work in process inventory 22,100 Direct labor 83,000 Beginning finished goods inventory 62.050 Total factory overhead 128.000 Raw materials purchased 23,500 31,200 Ending raw materials inventory 19.000 Ending work in process inventory 45,150 Ending finished goods inventory For the Inolhar press ALT F10 IPC) or ALT+FN+F10 (Mac). Using the information below, calculate gross profit for the period. Beginning Work in Process Inventory Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold for the period Sales revenues for the period Operating expenses for the period $55,000 $64,000 $80.000 567.000 $613,000 $1,334.000 $237.000 $727,000 $721,000 $850,000 $1.097,000 5714,000 QUESTION 5 Loma Inc, has an overhead application rate of 155% and allocates overhead based on direct material cost. During the current period, direct labor cost is $60,000 and direct materials used cost $72,000. Determine the amount of overhead Loma Inc should record in the current period $111,600 $128,000 $72,000 $31,250 $112,000 QUESTION 6 Ashely Ventures uses a job order costing system. For one month Ashely purchased $192,000 of raw materials on credit; issued materials to production of $191,000 of which $41,500 were indirect. Asholy incurred a factory payroll of $165,000, paid in cash, of which $53,000 was indirect labor Ashely uses a predetermined overhead rate of 145% of direct labor cost. The total manufacturing costs added during the period are: $520,000 $423,900 $499,035 C $410,500 $440,000