Use the following to answer questions 16-21: Markoft Corporation (30 PTS) Markoff Corporation has an expected monthly practical capacity of 9,000 units, which the company uses to determine overhead application rates. Overhead is applied on the basis of direct labor hours. Due to a flood at the manufacturing facility, only 5,700 units were produced during the month and 6,000 direct labor hours were used. Actual variable overhead for the period was $49,000 and actual indirect fixed manufacturing costs totaled $140,000. The following standard cost information is available: Direct materials $ 9.00 Direct labor (1 hour) 15.00 Variable overhead 8.00 Fixed overhead 16.00 Total $48.00 Use the following to answer questions 22-24: 15 POINTS manufactures a product with a "full cost of $25 per unit. Each unit required prime costs of 8 and variable overhead of $12 At a production level of 100,000 units, operating income under variable costing was computed to be $10.000 higher than under absorption costing 22. How many units were SOLD during the period? 23. The term "full cost is an important one in accounting. What are 2 purposes for which "full cost is needed? 24. Extra Credit: THE NAME OF THIS COMPANY IS COMPUTATION AREA Use the following to answer questions 16-21: Markoft Corporation (30 PTS) Markoff Corporation has an expected monthly practical capacity of 9,000 units, which the company uses to determine overhead application rates. Overhead is applied on the basis of direct labor hours. Due to a flood at the manufacturing facility, only 5,700 units were produced during the month and 6,000 direct labor hours were used. Actual variable overhead for the period was $49,000 and actual indirect fixed manufacturing costs totaled $140,000. The following standard cost information is available: Direct materials $ 9.00 Direct labor (1 hour) 15.00 Variable overhead 8.00 Fixed overhead 16.00 Total $48.00 Use the following to answer questions 22-24: 15 POINTS manufactures a product with a "full cost of $25 per unit. Each unit required prime costs of 8 and variable overhead of $12 At a production level of 100,000 units, operating income under variable costing was computed to be $10.000 higher than under absorption costing 22. How many units were SOLD during the period? 23. The term "full cost is an important one in accounting. What are 2 purposes for which "full cost is needed? 24. Extra Credit: THE NAME OF THIS COMPANY IS COMPUTATION AREA