Use the information below to answer questions 3-5. Copper Corporation has the following sales budget for the last six months of 2022: July $200,000 August 160,000 September 220,000 October 180,000 November 200,000 December 188,000 ACCT 355v13 Sample Exam 1 - KEY W Athabasca University 2023 Historically, the cash collection of sales has been as follows: 65% of sales collected in month of sale 25% of sales collected in month following sale . . 8% of sales collected in second month following sale . 2% of sales is uncollectible. 3. What are the cash collections for September? a. $143,000 b . $161,400 $199,000 $204,000 $240,000What is the ending balance of accounts receivable at the end of September assuming the uncollectible balance is written off in the third month after the sale? a. $199,000 b. $93,000 c. $89,800 d. $97,000 e. $88,000 What are the cash collections for October? a. $117,000 b. $184,800 c. $199,000 (1. $176,400 e. $174,000 Use the information below to answer questions 6-9. Sawyer Industries Inc. (SII) developed standard costs for direct material and direct labour. In 2021, SII estimated the following standard costs for their 30-litre heavy-duty plastic container. Budgeted quantity Budgeted price Direct materials 0.20 kg $27 per kg Direct labour 0.10 hours $16 per hour During July 2022, SII produced and sold 10,000 containers using 2,200 kg of direct materials at an average actual cost of $25 and 1,050 direct manufacturing labour hours at an average actual wage of $15 per hour. ACCT 355v13 Sample Exam 1 - KEY 4 Athabasca University 2023 6. July's direct material flexible-budget variance is a. $1,000 unfavourable. b. $2,200 favourable. C . $5,000 unfavourable. $2,200 unfavourable. e . $2,800 favourable. 7 July's direct material rate variance is a. $2,800 favourable. b. $4,400 favourable. C. $5,000 unfavourable. d $2,200 unfavourable.8. July's direct material efficiency variance is a. $4,800 favourable. b. $2,200 favourable. C. $5,400 unfavourable. d. $5,000 favourable. e. $4,800 unfavourable. 9. July's direct manufacturing labour flexible-budget variance is a. $750.00 unfavourable. $262.50 favourable. $262.50 unfavourable. $487.50 favourable. $250.00 favourable.Use the information below to answer questions 10 and 11. Royal Company uses a single cost pool for fixed manufacturing overhead. The amount for June 2022 was budgeted at $500,000; however, the actual amount was $700,000. Actual production for June was 12,500 units, and actual machine hours were 10,000. Budgeted production included 17,750 units and 12,375 machine hours. 10. What is Regal Company's budgeted fixed overhead rate per output unit? a $28.17 b. $39.44 C. $40.40 $56.56 e . $65.17 ACCT 355v13 Sample Exam 1 - KEY U Athabasca University 2023 11. What is Regal Company's budgeted fixed overhead rate per machine hour? a $28.17 b . $39.44 C. $40.40 $56.56 $65.17Use the information below to answer questions 1214. Potter Company has the following information for the current year: Beginning xed manufacturing overhead in inventory $95,000 Fixed manufacturing overhead in production 375,000 Ending xed manufacturing overhead in inventory 25,000 Beginning variable manufacturing overhead in inventory $10,000 Variable manufacturing overhead in production 50,000 Ending variable manufacturing overhead in inventory 15,000 12. What is the difference between operating incomes under absorption costing and variable costing? $65,000 $50,000 $40,000 $5,000 $70,000 99.09\"?\" 13. What would be the estimated cost per unit if Potter Company expects to sell 2,000 units next year? $3 00 $3 12 $3 70 $498 $500 .051?\" 9'9: 14. 15. What is the predicted indirect manufacturing labour cost if 160 machine-hours are budgeted and 170 are actually worked, assuming the estimated cost function is y = $81.04 + 5.32X? a. $985.44 b. $932.24 c. $904.40 (:1. $851.20 e. $81.04 Audio Labs collected the following information on the cost of producing 20,000 speaker units: $32.00 -er unit Variable overhead 16.00 er unit Fixed overhead 20.00 er unit Cartunes has offered to sell Audio Labs 10,000 speakers for $56.00 each. Should Audio Labs make or buy the parts if its facilities remain idle when speakers are purchased? buy; save $16.00 per unit buy; save $4.00 per unit make; save $2.00 per unit make; save $4.00 per unit make; save $6.00 per unit Flip-PET!\" '_'Use the information below to answer questions 1618. Yip Manufacturing purchases trees from Cheney Lumber and processes them up to the split-off point where two products (sheets of paper and pencil casings) are produced. The products are then sold to an independent company that markets and distributes them to retail outlets. The following information was collected for the month of May: Trees processed: 100 trees (yield = 70,000 sheets of paper, 60,000 pencil casings, and no scrap) Production: paper 70,000 sheets pencil casings 60,000 Sales: paper 68,000 at $0.04 per page pencil casings 60,000 at $0.10 per casing The cost of purchasing 100 trees and processing them up to the split-off point to yield 70,000 sheets of paper and 60,000 pencil casings is $3,000. ACCT 355vl3 Sample Exam 1 KEY '7 (Ci)- Athabasca University 2023 Yip Manufacturing's accounting department reported no beginning inventories and an ending inventory of 2,000 sheets of paper. 16. What are the papers' and the pencils' respective approximate weighted cost proportions using the sales value at split-off method? paper: 50.00%; pencils: 50.00% paper: 33.33%; pencils: 66.67% paper: 31.82%; pencils: 68.18% paper: 54.00%; pencils: 46.00% 9.09:5 17. 18. Using the sales value at split-off method, what are the approximate joint costs assigned to ending inventory for paper? a. $28.58 b. $27.27 c. $954.60 (1. $32.19 e. $762.90 Using the sales value at split-off method, what is the approximate production cost for each pencil casing? a. $00398 b. $00299 c. $0.05 (1. $00419 e. $00341 Use the information below to answer questions 19 and 20. Nesrien Custom Carpentry manufactures chairs in its Processing Department and uses the FIFO cost flow assumption. Direct materials are included at the beginning of the production cycle, and they are bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Inspection takes place at the end of the process, and spoiled units generally constitute 3% percent of the goods output. Information provided for March is as follows: WIP, beginning inventory March 1 30,000 units Direct materials: 100% complete Conversion costs: 89.5% complete Started during March 80,000 units Completed and transferred out 86,000 units WIP, Ending inventory March 31 20,000 units Direct materials: 100% complete Conversion costs: 75% complete Costs: WIP, beginning inventory: Direct materials $70,000 Conversion costs 40,000 Direct materials added 160,000 Conversion costs added 120,000 19. What are the normal and abnormal spoilage units, respectively, for March? a. 2,580 units; 1,420 units b. 1,950 units; 1,390 units 1,690 units; 1,050 units 1,420 units; 2,580 units e . 1,140 units; 1,140 units20. What are the costs per equivalent unit for direct materials and conversion, respectively? a. $2.00; $1.54 b. $1.45; $1.54 0. $2.11; $1.62 (1. $2.11; $1.18 e. $2.00; $1.18