Tartine Manufacturing produces plastic toys and uses process costing. There are three processing departmentsAssembling, Finishing, and Packaging. On January 1, the Finishing Department had 1,000 units of partially processed product in production. During January, 30,000 units were transferred in from the Assembling Department and 30,000 units were completed and transferred out. At the end of the month, 1,000 units of partially processed products remained in the Finishing Department. The weighted- average method is used. See additional details below.

Finishing Department, ending balance at January 31

Percent completed for materials cost: 90%

Percent completed for conversion cost: 70%

What was the number of equivalent units for the month of January, with respect to direct materials, for the Finishing Department?

Question 1 options:

	31,000
	30,900
	700
	900

Question 2 (2 points)

Stealth, Inc. produces two types of drones, rotary and fixed wing. Stealth estimated $918,000 of manufacturing overhead, and 54,000 machine hours for the year. The allocation base for overhead costs is machine hours. The rotary model actually consumed 20,000 machine hours, and the fixed wing type consumed 34,000 machine hours. How much overhead is allocated to the fixed wing model?

Question 2 options:

	$340,000
	$192,667
	$578,000
	$200,000

Question 3 (2 points)

If manufacturing overhead is overallocated during the period. What adjustment is required?

Question 3 options:

	DR: WIP Inventory CR: Manufacturing Overhead
	DR: Cost of Goods Sold CR: Finished Goods Inventory
	DR: Cost of Goods Sold CR: Manufacturing Overhead
	DR: Manufacturing Overhead CR: Cost of Goods Sold

Question 4 (2 points)

Paint Supply Co. provided the following information about its operations:

Variable Manufacturing Overhead $5 per gallon Variable Selling and Administrative Costs $4 per gallon Direct Labor and Direct Material $4 per gallon Fixed Manufacturing Costs $400,000 Fixed Selling and Administrative Costs $100,000

What is the contribution margin ratio if the company sells its only paint for $35/gallon?

Question 4 options:

	57.5%
	62.9%
	32.5%
	34.3%

Question 5 (2 points)

North Shore Manufacturing began business on January 1. During its first year of operation, North Shore worked on 2 industrial jobs and reported the following information at year-end:

Job 1

Direct Labor and Materials $14,800

Allocated Mfg. Overhead $2,000

Job 2

Direct Labor and Materials $15,400

Allocated Mfg. Overhead $3,700

North Shore's allocation of overhead costs left a debit balance of $2,500 in the Manufacturing Overhead account, which was adjusted to zero at year-end. Total sales during the year were $74,000. What was the amount of gross profit earned during the year?

Question 5 options:

	$38,100
	$38,400
	$33,100
	$35,600