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(Solution Download) A manufacturing company has a beginning finished goods inventory of $34,600, raw material purchases


 

 

 

 

 

 

 

A manufacturing company has a beginning finished goods inventory

 

of $34,600, raw material purchases of $48,000, cost of goods

 

manufactured of $102,500, and an ending finished goods inventory of

 

$57,800. The cost of goods sold for this company is:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$71,200
$79,300
$102,500
$137,100
$92,700

 

If a company applies overhead to production with a predetermined

 

rate, a credit balance in the Factory Overhead account at the end

 

of the period means that:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The bookkepper has made an error

 

because the debit don't equal the credcits.

The balance will be carried forward

 

to the next period as an overhead cost.

Actual overhead was less than the

 

overhead amount charged to production.

The overhead was underapplied for

 

the period.

Actual overhead was greater than

 

the overhead amount charged to production.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The bookkeeper has made an

 

error because the debits don't equal the credits.

The balance will be carried forward

 

to the next period as an overhead cost.

Actual overhead was less than the

 

overhead amount charged to production.

The overhead was underapplied for

 

the period.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$2,898,000 underapplied.
$4,158,000 underapplied.
$8,316,000

 

underapplied.

$8,316,000 overapplied.

 

$1,000,000 underapplied.

 

 

 

 

 

 

 

 

The Haskins Company manufactures and sells radios. Each radio

 

sells for $59.50 and the variable cost per unit is $32.50. Haskin's

 

total fixed costs are $58,000.00, and budgeted sales are 34,000.00

 

units. What is the contribution margin per unit?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$1.57
$27.00
$32.50
$59.50
$918,000

 

 

 


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