019 **E16% 05:59 PM Multiple Choice Use the information below to answer the following question(s). Jupiter Inc. had the following activities in the year: Direct materials balance: Beginning inventory $100,000 Purchases 308,000 Ending inventory 52,000 Direct manufacturing labour 80,000 Manufacturing overhead 60,000 Reply 019 **116% 05:59 PM Direct manufacturing labour 80,000 Manufacturing overhead 60,000 Ending work in process inventory 20,000 Beginning work in process inventory 4,000 Ending finished goods inventory 80,000 Beginning finished goods inventory 120,000 Reply 010 * *116% 05:59 PM 1. What is Jupiter's cost of direct materials used during the year? a. $356,000 b. $360,000 c. $308,000 d. $364,000 e. $372,000 2. What is Jupiter's cost of goods sold? a. $520,000 b. $464,000 c. $440,000 Reply 010 ** 16% 05:59 PM ... 2. What is Jupiter's cost of goods sold? a. $520,000 b. $464,000 c. $440,000 d. $400,000 e. $516,000 3. What is Jupiter's cost of goods manufactured? a. $536,000 b. $496,000 c. $480,000 Reply 010 ***LE_416% 05:59 PM R .. 3. What is Jupiter's cost of goods manufactured? a. $536,000 b. $496,000 c. $480,000 d. $476,000 e. $512,000 6 Reply 010 **LE 16% 05:59 PM Answer the following question(s) using the information below. Burger Bob's Boathouse sells only one product. 7,000 units were sold in year resulting in $70,000 of sales revenue. Variable costs were $28,000 for the year, and fixed costs were $12,000. 4. Contribution margin per unit is a. $4.00 b. $4.29 Reply 010 **16% 05:59 PM b. $4.29 c. $6.00 d. $10.00 e. $5.71 5. Break-even point in volume is a. 2,000 units. b. 3,000 units. c. 5,000 units. d. 7,000 units. e. 2,797 units. 6. The number of units required to be sold to Reply 010 * N16% 05:59 PM Burger Bob's Boathouse sells only one product. 7,000 units were sold in year resulting in $70,000 of sales revenue. Variable costs were $28,000 for the year, and fixed costs were $12,000. 4. Contribution margin per unit is a. $4.00 b. $4.29 c. $6.00 d. $10.00 e. $5.71 5. Break-even point in volume is 6 Reply 010 **LE 16% 06:00 PM ... d. 7,000 units. e. 2,797 units. 6. The number of units required to be sold to achieve $60,000 of operating profit is a. 10,000 units. b. 11,666 units. C. 15,000 units. d. 18,000 units. e. 12,000 units. Reply 010 * N16% 06:00 PM Short Answer Julia Child Company sells baby car seats to retailers for an average of $85 each. The variable cost of each car seat is $48 and monthly fixed selling costs total $6,000. Other monthly fixed costs of the company total $7,000. Required: 7. What is the breakeven point in number of car seats? 8. What is the margin of safety, assuming sales total $32.000? Reply 010 ** 16% 06:00 PM monthly fixed costs of the company total $7,000. Required: 7. What is the breakeven point in number of car seats? 8. What is the margin of safety, assuming sales total $32,000? 9. What is the breakeven level in car seats, assuming variable costs increase by 20%? 10. What is the breakeven level in car seats, assuming the selling price goes up by 10%, fixed selling costs decline by 10%, and other fixed costs decline by $1,000? Reply