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5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. $8.00 $

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5) MSU manufactures and sells toy gyroscopes. The following data is related to sales and production of the toy gyroscopes for last year. $8.00 $ 1.83 Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during the year $ 75,000 $ 80,000 500,000 150,000 Using variable costing, what is the operating income for last year? a. $1,200,000 b. $103,000 c. $413,000 d. $258,000 6) With respect to Sample, LLC's total fixed costs, which of the following statements is truet a. They will remain the same as production levels change within the relevant range. b. They will increase as production decreases within the relevant range. c. They will decrease as production increases within the relevant range. d. They will decrease as production decreases within the relevant range. 7) MSU manufactures widgets. The following data is related to sales and production of the widgets for last year. 7) MSU manufactures widgets. The following data is related to sales and production of the widgets for last year. Selling price per unit Variable manufacturing costs per unit Variable selling and administrative expenses per unit total Fixed manufacturing overhead (in total) Fixed selling and administrative expenses (in total) Units produced during the year Units sold during year $ 130.00 $6200 $5.00 $ 30,000 $ 8,000 1,500 1,100 Using absorption costing, what is operating income for last year? a. $ 39,300 b. $ 66,300 c. $219,700 d. $143,000 8) MSU had the following income statement for the year: Sales revenue $500,000 Cost of goods sold 275,000 Gross margin 225,000 Less: Selling expenses Administrative expenses Operating income 70,000 90,000 $ 65,000 What was the cost of goods sold percent? (Note: Round your answer to two decimal places.) a. 45.00% b. 55.00% c. 13.00% d. 18.00%

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