Question 1. Barrett Industries began the month of June with a finished goods inventory of $16 000. The finished goods inventory at the end of June was $10 000 and the cost of goods sold during the month was $20 000. The cost of goods manufactured during the month of June was: A. $15 000 B. $26 000 C. $20 000 D. $5000

Question 2. Fairchild Pty Ltd began April with a finished goods inventory of $26 000. The cost of goods manufactured during the month was $40 000 and the cost of goods sold during April was $50 000. The inventory remaining in finished goods at the end of April was: A. $35 000. B. $25 000. C. $20 000. D. $16 000.

Question 3. Barrister and Company began July with a finished goods inventory of $11 000. The cost of goods manufactured during the month was $85 000 and the ending finished goods inventory was $20 000. The cost of goods sold during July was: A. $55 000. B. $75 000. C. $96 000. D. $105 000.

Question 4.

Lenca Industries has a cost of goods manufactured of $65 000 in May. The finished goods inventory at the end of May was $20 000 and the cost of goods sold during May was $76 000. The inventory of finished goods at the beginning of May was: A. $5000. B. $30 000. C. $11 000. D. $20 000.

Question 5.

The fixed costs per unit are $10 when a company makes 10 000 units. What are the per unit fixed costs when 12 500 units are produced? A. $6.00 B. $12.00 C. $10.00 D. $ 8.00

Question 6.

The variable costs per unit are $5 when a company makes 10 000 units. What are the per unit variable costs when 8000 units are produced? A. $6.00 B. $5.00 C. $4.50 D. $5.00

Question 7.

Total costs are $140 000 when 10 000 units are made. Of this amount, variable costs are $5 per unit. What are the total costs when 8000 units are produced?

A. $140 000 B. $136 000 C. $132 000 D. $124 000

Question 9.

Manufacturing overhead:

A. consists of direct material and direct labour costs. B. is easily traced to jobs. C. should not be assigned to individual jobs because it bears no obvious relationship to them. D. is a heterogeneous pool of indirect production costs that can include gas and electricity costs and depreciation.

Question 10.

A predetermined overhead rate is calculated as follows:

A. budgeted manufacturing overhead/budgeted amount of cost driver. B. budgeted amount of cost driver/budgeted manufacturing overhead. C. budgeted manufacturing overhead/budgeted amount of non-manufacturing overhead. D. budgeted manufacturing overhead/ budgeted total expenses