QUESTION 15 Which of the following would usually be found on a job cost sheet under a normal cost system? Actual manufacturing overhead cost Actual direct material cost B) No Cholce A Choice B Choice C Choice D QUESTION 16 The following data are available for the Phelps Corporation for a recent month: Product A Product B Product 150 $,00 130 $,00 90,0 s370 Sales 104 91 Variable expenses Contribution margin Fixed expenses Net operating income 27,0 222, 63,0 148. 55,0 93,0 59, 26 The break-even sales for the month for the company is closest to: $203,000 91,667 $148,000 $137,500 QUESTION 17 Goodman Corporation has sales of 3,000 units at $80 per unit. Variable costs are 35% of the sales price. H total fixed costs are $66,000, the degree of operating leverage is: 1.73 0.79 2.67 0.93 QUESTION 18 Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incured by Vignana for last year: Cost of clay used in production Wages paid to the workers who paint the figurines Wages paid to the sales manager's secretary Cost of junk mail advertising $75,000 $86,000 $38,000 $55,000 What is the total of the product costs above? $161,000 $0 $93,000 $179.000 QUESTION 19 Which of the following statements about using a plantwide overhead rate based on direct labor is correct? The labor theory of value ensures that using a plantwide overhead rate based on direct labor will do a reasonably good job of assigning overhead costs to jobs. It is often overly simplistic and incorrect to assume that direct labor-hours is a company's only manufacturing overhead cost driver Using a plantwide overhead rate based on direct labor costs will ensure that direct labor costs will be correctly traced to jobs Using a plantwide overhead rate based on direct labor-hours will ensure that direct labor costs are correctly taced to jobs. QUESTION 20 Which of the following costs at a manufacturing company would be treated as a product cost under variable costing? sales manager's salary property taxes on the factory building sales commissions direct material cost QUESTION 21 Thach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $665,000, variable manufacturing overhead of $3.00 per machine-hour, and 70,000 machine-hours. Recently, Job T321 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials 30 90 S630 2,8 80 Direct labor cost The unit product cost for Job T321 is closest to: $117.00 $154.50 $58.50 $51.50 QUESTION 22 Aaron which has only one product, has provided the following data conceming its most recent month of operations: Selling price S 90 Units in beginning inventory Units produced Units sold Units in ending inventory 3,400 3,000 400 Variable costs per unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: $ 21 $ 38 54,40 Fixed manufacturing overhead Fixed selling and administrative expense $ 3,000 What is the net operating income for the month under variable costing? $5,600 $12,000 $6,400 $(20,400) Click Save and Submit to save and submit. Click Save All Answers to save all answers
