The management of Mussemman Corporation would we to set the seting price on a new product using the absorption cong approach a cost purjong the company's spent the n for the new product Direct materials Variable manufacturing overhead Direct labor Fixed annual manufacturing overhead Variable selling and administrative expenses Fixed annual selling and administrative expenses Per Unit $27 1:16 18 33 $216,000 $77,00 Management plans to produce and sell 9,000 unts of the new product annualy The new product would que an investment of 1305000 and has a requred retam on investment of The unit target being once using the absorption costing approach is closest to Multiple Cro $75.00 $16.50 Piechocks Corporation manufactures and sets a single product. The company uses unts as the measure of activity in ts boogets and performance reports During May the conpay? activity was 5.940 units. The company has provided the tobowing data concemeng the form used to budgeting and Data used in budgeting Revenue Direct labor Direct materials Manufacturing overhead Selling and administrative expenses Total expenses Actual results for May Revenue 50 50 $32.66 $3.00 33,400 28,300 $61,790 Direct labor Direct materials Manufacturing overhead Selling and adeinistrative expenses 5 200,564 5 22,786 $73,824 $ 43,922 $11,096 The direct labor in the planning budget for May would be closest to 12.10 LM 0.40 $14.20 Dahn Corporation has provided the following financial data: Balance Sheet December 31, Year 2 and Year 1 Assets Year 2 Year 1 Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant & equipment, net Total assets Current liabilities: Accounts payable 150,000 $ 227,000 134,000 $ 150,000 130,000 130,000 83,000 80,000 594,000 490,000 769,000 840,000 $ 1,363,000 $ 1,330,000 Liabilities and Stockholders' Equity Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $5 par value Additional paid-in capital Retained earnings Total stockholders' equity Total liabilities & stockholders' equity Income Statement For the Year Ended December 31, Year 2 Sales (all on account) $ 1,370,000 Cost of goods sold 850,000 Gross margin 520,000 Operating expenses 482,692 Net operating income 37,308 Interest expense. 21,000 Net income before taxes. 16,308 $ 200,000 $ 180,000 63,000 70,000 71,000 60,000 334,000 310,000 290,000 290,000 624,000 600,000 400,000 400,000 50,000 50,000 289,000 739,000 $ 1,363,000 280,000 730,000 $ 1,330,000 Income Statement For the Year Ended December 31, Year 2 Sales (all on account) Cost of goods sold Gross margin Operating expenses Net operating income Interest expense Net income before taxes Income taxes (35%) Net income $ 1,370,000 850,000 520,000 482,692 37,308 21,000 16,308 5,708 $ 10,600 Dividends on common stock during Year 2 totaled $1,600. The market price of common stock at the end of Year 2 was $2.37 per share. The company's average collection period for Year 2 is closest to: (Round your Intermediate calculations to 2 decimal places.) Multiple Choice 35.7 days 11 days 10 days 35.2 days