Question 3(8 points)

The following totals are used to CVP Income Statement for Frederick Company for FY2018:

Frederick Company

Selected Financial Figures

For the Year Ended 12/31/18

Sales (100 units)

$10,000

Variable Costs:

Direct Labor

$1,300

Direct Materials

1,850

Factory Overhead (variable)

2,000

Selling Expenses (variable)

600

Administrative Expenses (variable)

500

Fixed Costs:

Factory Overhead (fixed)

$550

Selling Expenses (fixed)

1,000

Administrative Expenses (fixed)

1,000

Frederick Company utilizes a JIT production system and there are no Raw Materials, Work-in-Process or Finished Goods inventories.Use this information to determineFY 2018 Contribution Margin Percentage.Enter percentage to one decimal place. (example enter 35.5% as 35.5)

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Question 4(9 points)

The following totals are used to CVP Income Statement for Frederick Company for FY2018:

Frederick Company

Selected Financial Figures

For the Year Ended 12/31/18

Sales (100 units)

$10,000

Variable Costs:

Direct Labor

$1,150

Direct Materials

1,900

Factory Overhead (variable)

2,000

Selling Expenses (variable)

600

Administrative Expenses (variable)

500

Fixed Costs:

Factory Overhead (fixed)

$500

Selling Expenses (fixed)

1,000

Administrative Expenses (fixed)

1,000

Frederick Company utilizes a JIT production system and there are no Raw Materials, Work-in-Process or Finished Goods inventories.Use this information to determine theFY 2016 breakeven point in units.Round and enter as a whole number.

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Question 5(9 points)

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Adelphi Company has budgeted activity for March to reflect net income $180,000. All sales are credit sales. Receivables are planned to increase (decrease -) by $21,000 payables to increase (decrease -) by $19,000 and Depreciation Expense is $42,000. Use this information to determine how much cash will increase (decrease) during the month of March. (Decreases in accounts receivable or accounts payable will have a negative sign in front of number.Round & enter final answer to the nearest whole dollar.)

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Question 6(8 points)

During FY 2018, Adelphi Company reported sales of $400,000, a contribution margin of $10.00 per unit, fixed costs of $95,000, and net income of $30,000. Use this information to determine the number of units Adelphi sold during FY 2018.(Round answer to nearest whole number)

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Question 7(8 points)

Towson Company manufactures book cases, and each requires 32 board feet of lumber. Towson expects that 1,600 and 1,650 book cases will be built in June and July, respectively.Towson keeps lumber on hand at 35% of the next month's production needs. Use this information to determine number board feet of lumber that Towson Company should buy in June. (Round & enter final answers to the nearest whole number.)

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Question 8(9 points)

Annapolis Company has two service departments (Computer Operations & Maintenance Services).Annapolis has two production departments (Mixing Department & Packaging Department.)Annapolis uses a direct allocation method where service departments are allocated only to production departments.All allocations are based on total employees.Computer Operations has costs of $180,000 andMaintenanceServices has costs of $175,000 before any allocations.What amount of Maintenance Services total cost is allocated to the Packaging Department?(round to closest whole dollar) Employees are:

Computer Operations2

Maintenance Services4

Mixing Department8

Packaging Department6

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Question 9(8 points)

Annapolis Company has two service departments (Computer Operations & Maintenance Services).Annapolis has two production departments (Mixing Department & Packaging Department.)Annapolis uses a step allocation method where the Computer Operations Department is allocated to all departments and Maintenance Services is allocated to the production departments.All allocations are based on total employees.Computer Operations has costs of $130,000 andMaintenanceServices has costs of $120,000 before any allocations.What amount of Maintenance Services total cost is allocated to the Mixing Department?(round to closest whole dollar) Employees are:

Computer Operations3

Maintenance Services3

Mixing Department6

Packaging Department6

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Question 10(8 points)

Adelphi Company provides the following information for their first year of operations in 2018:

Sales, 8,000 units @ $20 each

Total production, 12,000 units

Production costs per unit:

Direct materials$4.00

Direct labor$4.00

Variable overhead$1.00

Fixed manufacturing overhead$13,000

Adelphi Company uses absorption costing. Use this information to determine for Adelphi Company the FY 2018 Cost of Goods Sold. (Round & enter final answer to the nearest whole dollar)

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Question 11(8 points)

Bowie Sporting Goods manufactures sleeping bags.The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:

Direct material of 5.00 yards at $6.00 per yard

Direct labor of 2.00 hours at $19.00 per hour

Overhead applied per sleeping bag at $16.00

In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $5.90 per yard.The labor used was 11,700 hours at an average rate of $18.50 per hour.The actual overhead spending was $96,200.

Determine the total materials variance and round to the nearest whole dollar.Enter a favorable variance as a negative number.Enter an unfavorable variance as a positive number.

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Question 12(8 points)

Bowie Sporting Goods manufactures sleeping bags.The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:

Direct material of 5.50 yards at $5.50 per yard

Direct labor of 3.00 hours at $18.00 per hour

Overhead applied per sleeping bag at $18.00

In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $5.90 per yard.The labor used was 11,700 hours at an average rate of $18.50 per hour.The actual overhead spending was $96,200.

Determine the labor rate variance and round to the nearest whole dollar.Enter a favorable variance as a negative number.Enter an unfavorable variance as a positive number.

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