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Use the cost information below for Laurels Company to determine the total manufacturing costs during the current year: Direct materials used Direct labor used Total
Use the cost information below for Laurels Company to determine the total manufacturing costs during the current year: Direct materials used Direct labor used Total factory overhead Work in process inventory, beginning Work in process inventory, ending $ 5,100 7,100 5, 200 3,100 4,200 Multiple Choice $17,400. $12,200. $18,500. $16,300. $13,900. Using the information below, calculate gross profit for the period: Beginning Raw Materials Inventory Ending Raw Materials Inventory Beginning Work in Process Inventory Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold Sales Selling Expenses $ 24,000 29,000 53,000 62,000 78,000 65,000 530,000 1,234,000 222,000 Multiple Choice $704,000. $482,000. $1,012,000. $171,000. $717,000. Use the cost information below for Ruiz, Incorporated to determine cost of goods manufactured for the year: Work in Process, beginning Work in Process, ending Total factory overhead Direct materials used Direct labor used $ 50,200 37,100 5,600 12,600 26,600 Multiple Choice $13,100. $95,000. $44,800. $57,900. 0 $52,300. If the cost of the beginning work in process inventory is $85,000, costs of goods manufactured is $960,000, direct materials cost is $344,000, direct labor cost is $224,000, and overhead cost is $329,000, calculate the ending work in process inventory. Multiple Choice $322,000. $63,000. $22,000. $392,000. $148,000. Forrester Company is considering buying new equipment that would increase monthly fixed costs from $190,000 to $220,000 and would decrease the current variable costs of $80 by $20 per unit. The selling price of $120 is not expected to change. Forrester's current break-even sales are $470,000 and current break-even units are 9,900. If Forrester purchases this new equipment, the revised contribution margin ratio would be: Multiple Choice 30%. 60%. 50%. 20%. 80%
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