Question 21 1 pts Gold Corp. has provided the following information for the current year: Units produced 17,500 units Sale price $425 per unit Direct materials $60 per unit Direct labor $170 per unit Variable manufacturing overhead $45 per unit Fixed manufacturing overhead $612,500 per year Variable selling and administrative costs $5 per unit Fixed selling and administrative costs $875,000 per year Calculate the unit product cost using absorption costing. Question 22 1 pts ML Co. reports the following for the year ended 12/31/2021: Accounts Payable $15,000 Accumulated Depreciation-- $112,500 Building Administrative Expenses $147,500 Cash $112,500 Cost of Goods Sold $357,500 Building $375,000 Work in process $25,500 Sales $550,000 Selling Expenses $44,000 Finished Goods $55,000 ML's gross profit ratio for the year would be: 35% 65% 54% 2% 3% Question 23 1 pts Gold Corp. is preparing the master budget for the coming quarter and has determined the following for the month of January: Expected Sales in January 68,000 units Expected Sales in February 65,500 units Budgeted inventory, December 31 15% of January sales Desired inventory to be on hand January 31 15% of February sales How many units will Gold budget to purchase in January? 77.825 units 68,000 units 67,625 units 57.800 units Question 24 1 pts Which of the following tools would be the best evaluation measure of for Beach Hotels Inc. to use in evaluating the maintenance department? Department contribution to overhead Responsbility accounting (variance) reports Department net income All of these are equally useful in evaluating the hotels Return on investment Question 25 1 pts Gold Co. reports the following for the year ended 12/31/2021: Accounts Payable $15,000 Accumulated Depreciation $112,500 Building Administrative Expenses $147,500 Cash $112,500 Cost of Goods Sold $357,500 Building $375,000 Work in process $25,500 Sales $550,000 Selling Expenses $44,000 Finished Goods $55,000 Net income for Gold for the year would be: $1,000 $98,500 $358,500 $56,000 $18,000