ANSWER ALL POINTS AS PROVIDED BY THE PROBLEM

I. During the most recent year, ABC Company had the following data: Units in beginning inventory Units produced Units sold Unit sales price Variable costs per unit 800 8,000 7,000 $200 Direct materials Direct labor Variable overhead $30 $20 Fixed costs: Fixed overhead Fixed Selling & Administrative $ 80,000 $160,000 1. How many units are in the ending inventory? 2. Under variable costing, the unit product cost is? 3. Under full absorption costing, the unit product cost is? 4. Under variable costing, the operating profit is? 5. Under full absorption costing the operating profit is? 11. The following cost data is provided for Jones Manufacturing for November and December 2012. During November, 20,000 units were manufactured while in December 15,000 units were produced Category November December Direct Material Direct labor Manufacturing O/H $80,000 $60,000 $60,000 $45,000 $25,000 $ 2,000 Other Manufacturing Overhead $40,000 Rent Utilities $25,000 $ 2,200 $48,000 6. If production volume increased by 50% in January, 2013 from December's production, direct labor costs would be 7. If production volume increased by 50% in January,2013, fom December's production rent costs would be 8. To determine the answers to #6 & #7, the easiest method to use would be a. Regression analysis b. Account analysis c. The high-low method The following four months of data were collected for utility cost and the number of labor hours in a factory: MonthUtility Cost an Feb Mar Apr $21,690 $28,520 $23,960 $29,690 4,000 5,430 4,400 5,600 9. The cost driver for this data is: a. Month b. Utility cost c. Labor hours 10. Select the correct set of high and low months Low a. February b. February c. January d. January High April March March prl 11. Using the high low method, compute the variable rate for utility cost a. $2.00 c. $5.00 d. $5.30 12. Using the high low method, compute the fxed rate for utility cost a, $1,690 b. $1,960 c. S1,370 d. $1,875