Question: MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Evanston Manufacturing Inc. reported the following information for the
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Evanston Manufacturing Inc. reported the following information for the year 2015 Number of Units Produced Number of Units Sold Cost of Goods Manufactured Cost of Goods Sold Sales Revenue Gross Profit Operating Expense 4,800 $460,800 $488,250 $1,260,000 $771,750 $724,900 What was the unit product cost? B) $93.00 D) $96.00 ) $262.50 A) $87.77 2) In which of the following ways is the management of a company accountable to its communities?2) A) making timely interest payments to creditors and dividend payments to investors B) providing a capital return on the shareholders' investment C) repaying principal and interest to the suppliers D) ensuring the company's environmental impact is not harmful to its area of operations 3) 3) Which of the following correctly describes the accounting for indirect labor costs? A) Indirect labor costs are period costs and are expensed as incurred. B) Indirect labor costs are period costs and are expensed when the manufactured product is sold. C) Indirect labor costs are product costs and are expensed as incurred. D) Indirect labor costs are product costs and are expensed when the manufactured product is sold. 4) 4) Barricades Corporation provided the following information for the year 2015: $24,000 Beginning Balance-Work-in-Process Inventory 56,000 84,000 60,000 360,000 Ending Balance-Work-in-Process Invent Beginning Balance-Raw Materials Inventory Ending Balance-Raw Materials Inventory Purchases-Raw Materials Direct Labor Indirect Materials Indirect Labor 47,000 19,000 24,000 270,000 Plant Utilities & Insurance What was the amount of direct materials used in production during 2015? D) $504,000 C) $328,000 B) $360,000 A) $384,000
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