Question 1 of 50 2 0 Points A partial listing of costs incurred during December at Gagnier Corporation appears below The total of the manufacturing overhead costs listed above for December is A $40,000 B $89,000 C $325,000 D $635,000 Question 2 of 50 2 0 Points A product sells for $20 per unit and has a contribution margin ratio of 40 percent Fixed expenses total $240,000 annually How many units of the product must be sold to yield a profit of $60,000 A 40,000 units B 37,500 units C 65,000 units D 30,000 units Question 3 of 50 2 0 Points A proper journal entry to close overapplied manufacturing overhead to Cost of Goods Sold would be A B C D Reset Selection At the beginning of the year, manufacturing overhead for the year was estimated to be $267,500 At the end of the year, actual direct labor hours for the year were 22,100 hours, the actual manufacturing overhead for the year was $262,500, and manufacturing overhead for the year was overapplied by $13,750 If the predetermined overhead rate is based on direct labor hours, then the estimated direct labor hours at the beginning of the year used in the predetermined overhead rate must have been A 22,100 direct labor hours B 19,900 direct labor hours C 21,400 direct labor hours D 21,000 direct labor hours Average maintenance costs are $1 50 per machine hour at an activity level of 8,000 machine hours and $1 20 per machine hour at an activity level of 13,000 machine hours Assuming that this activity is within the relevant range, total expected maintenance cost for a budgeted activity level of 10,000 machine hours would be closest to A $11,433 B $15,000 C $16,128 D $13,440 Reset Selection Babuca Corporation has provided the following production and total cost data for two levels of monthly production volume The company produces a single product The best estimate of the total cost to manufacture 6,300 units is closest to A $1,495,620 B $1,355,760 C $1,449,000 D $1,425,690 Reset Selection Babuca Corporation has provided the following production and total cost data for two levels of monthly production volume The company produces a single product The best estimate of the total monthly fixed manufacturing cost is A $1,506,400 B $1,465,400 C $1,424,400 D $932,400 Babuca Corporation has provided the following production and total cost data for two levels of monthly production volume The company produces a single product The best estimate of the total variable manufacturing cost per unit is A $82 00 B $70 20 C $56 70 D $11 80 Balonek Inc 's contribution margin ratio is 57 and its fixed monthly expenses are $41,000 Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $112,000 A $63,840 B $7,160 C $71,000 D $22,840 Reset Selection Butteco Corporation has provided the following cost data for last year when 100,000 units were produced and sold All costs are variable except for $100,000 of manufacturing overhead and $100,000 of selling and administrative expense There are no beginning or ending inventories If the selling price is $10 per unit, the net operating income from producing and selling 110,000 units would be A $450,000 B $385,000 C $405,000 D $560,000

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Question 1 of 50 2.0 Points A partial listing of costs incurred during December at Gagnier Corporation appears below: The total of the manufacturing overhead

Question 1 of 50

2.0 Points

A partial listing of costs incurred during December at Gagnier Corporation appears below: The total of the manufacturing overhead costs listed above for December is:

A. $40,000
B. $89,000
C. $325,000
D. $635,000
Question 2 of 50	2.0 Points

A product sells for $20 per unit and has a contribution margin ratio of 40 percent. Fixed expenses total $240,000 annually. How many units of the product must be sold to yield a profit of $60,000?

A. 40,000 units

B. 37,500 units

C. 65,000 units

D. 30,000 units

Question 3 of 50

2.0 Points

A proper journal entry to close overapplied manufacturing overhead to Cost of Goods Sold would be:

A.
B.
C.
D.

Reset Selection

At the beginning of the year, manufacturing overhead for the year was estimated to be $267,500. At the end of the year, actual direct labor-hours for the year were 22,100 hours, the actual manufacturing overhead for the year was $262,500, and manufacturing overhead for the year was overapplied by $13,750. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:

A. 22,100 direct labor-hours
B. 19,900 direct labor-hours
C. 21,400 direct labor-hours
D. 21,000 direct labor-hours

Average maintenance costs are $1.50 per machine-hour at an activity level of 8,000 machine-hours and $1.20 per machine-hour at an activity level of 13,000 machine-hours. Assuming that this activity is within the relevant range, total expected maintenance cost for a budgeted activity level of 10,000 machine-hours would be closest to:

A. $11,433
B. $15,000
C. $16,128
D. $13,440

Reset Selection

Babuca Corporation has provided the following production and total cost data for two levels of monthly production volume. The company produces a single product. The best estimate of the total cost to manufacture 6,300 units is closest to:

A. $1,495,620
B. $1,355,760
C. $1,449,000
D. $1,425,690

Reset Selection

A. $1,506,400
B. $1,465,400
C. $1,424,400
D. $932,400

A. $82.00
B. $70.20
C. $56.70
D. $11.80

Balonek Inc.'s contribution margin ratio is 57% and its fixed monthly expenses are $41,000. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $112,000?

A. $63,840
B. $7,160
C. $71,000
D. $22,840

Reset Selection

Butteco Corporation has provided the following cost data for last year when 100,000 units were produced and sold: All costs are variable except for $100,000 of manufacturing overhead and $100,000 of selling and administrative expense. There are no beginning or ending inventories. If the selling price is $10 per unit, the net operating income from producing and selling 110,000 units would be: