These figures have been extracted from the trial balance of Canada Ltd for June 2020:

Direct materials	$20 000
Factory electricity	56 000
Freight outwards	8 000
Office salaries	44 000
Depreciation on factory plant	24 000
Directors fees	28 000
Sales commission	32 000
Factory wages - Direct - Indirect	120 000 40 000

There was no opening or closing work in process. Calculate the total factory overhead expenses?

Select one:

a. $140 000

b. $80 000

c. $240 000

d. None of the options

e. $120 000

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The following information applies to Canada Ltd:

Finished goods inventory	2019	2020
	$20 000	$15 000
Work in process inventory	5 000	15 000
Materials inventory	15 000	22 500
Purchases of materials	12 000	19 500
Cost of goods manufactured	45 000	75 000

The cost of Materials transferred to production in 2020 is:

Select one:

a. $15 000.

b. $19 500.

c. None of the options

d. $12 000.

e. $27 000.

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Canada Ltd reports the following for the 2020 financial year:

Total assets	$950 000
Profit	50 000
Current liabilities	570 000

If current assets = 40% of total assets, Canada Ltds current ratio is:

Select one:

a. None of the options

b. 2 to 3.

c. 3 to 2.

d. 2 to 1.

e. 1 to 2.

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Canada Ltd had a profit of $150 000 before tax, after deducting $13 500 in interest expense. Canada Ltd's liabilities and equity total $1 362 500. Return on total assets, before finance costs and tax is:

Select one:

a. 10.4%.

b. 11.0%.

c. unable to be calculated from the information provided.

d. 12.0%.

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Canada Ltd reports the following information for the 2020 financial year. Determine the cost of finished goods manufactured.

Work in process 1 January 2020	$14 000
Work in process 31 December 2020	20 000
Finished goods inventory 1 January 2020	10 000
Finished goods inventory 31 December 2020	12 000
Direct materials used	6 000
Direct manufacturing labour cost	4 000
Factory overhead expenses	4 000
Selling expenses	6 000
General administrative expenses	8 000

Select one:

a. None of the options

b. $6 000

c. $8 000

d. $10 000

e. $12 000