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ultiple Choice (NO NPV) entify the choice that best completes the statement or answers the question 1. Playtime Toys began operations on January 1, 2008. During January it produced 2,000 toys and sold 1,850 toys. The following are needed to make I toy 2 board feet at $3 per foot 1.5 quarts at $2 per quart 3 hours at $6 Wood Paint Direct labor per hour Manufacturing overhead is applied at a rate of $4 per direct labor hour. Given this information, the manufacturing overhead cost per toy would be: a. $6 b. $9 $30 d. $12 2. Manufacturing costs are also considered: Product costs b. Fixed costs C. Selling costs d Period costs C. a. 3. LeMinton Company expects the following credit sales for the first five months of the year: January, $25,000: February, $40,000; March, $30,000, April, $36,000, May $40,000. Experience has shown that payment for the credit sales is received as follows: 60% in the month of sale, 25% in the first month after sale, 12% in the second month after sale, and the remainder is uncollectible. How much cash can LeMinton Company expect to collect in March as a result of credit sales? a. $30,000 b. $28,600 $18,000 d. $31,000 C