Question 27 Financial statement information follows as of the end of each year. Inventory Net sales Cost of goods sold Net income 2021 $ 54,000 784,000 306,000 134,000 2020 $ 48,000 697,000 277,000 90,000 Compute the profit margin ratio for 2021. O 18.1% O 17.1% 37.9% 5.9% Question 30 Clover Department Store had a balance in its Accounts Receivable account of $730,000 at the beginning of the year and a balance of $770,000 at the end of the year. Net credit sales amounted to $6,375,000 and cost of goods sold amounted to $2,800,000. The receivables turnover for the year is O 8.5 times. O 8.3 times. O 8.7 times. O 3.73 times. Question 33 The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 11900 gallons of direct materials that actually cost $44030 were used to produce 6600 units of product. The direct materials quantity variance for last month was O $5950 unfavorable. O $5200 unfavorable O $3900 favorable. $5200 favorable