1.) The following cost formula was developed using monthly data for a retail clothing store.

Total cost = $50,000 + ($250number of customers)

The number $50,000:

Select one:

a.is the unknown variable

b.is the slope rate.

c.is the intercept.

d.is the dependent variable.

2.) Diamond Design Company makes custom chairs for individual customers. On September 1, there was one job in process, Job 243, with a cost of $2,000. Jobs 244, 245, and 246 were started during the month of September. Data on costs added during the month are as follows:

Job 243

Job 244

Job 245

Job 246

Direct Materials

$9,000

$2,280

$6,700

$8,000

Direct Labor

2,240

1,000

2,300

2,530

Overhead is applied to production at the rate of 60% of direct labor cost. Job 245 was completed on September 14 and the client was billed at cost plus 40%. All other jobs remained in process

Calculate the balance in Work-in-Process on September 30.

Select one:

a.$17,717

b.$30,512

c.$15,820

d.$32,820

e.$22,875