QUESTION $1$A company used $$35,000$ of direct materials, incurred $$73,000$ in direct labor cost,and $$114,000$ in factory overhead costs during the period. If beginning and ending work in process inventorieswere $$28,000$ and $$32,000$ respectively, the cost of goods manufactured was:a$\mathrm{.}218,000$ b$\mathrm{.}226,000$ c$\mathrm{.}190,000$ d$\mathrm{.}222,0005$ points QUESTION $2$Cost of goods sold for $2020$ was $$233\mathrm{.}000.$January $1,2020$ finished goods inventory balance was $$31,600.$December $31,2020$ finished goods inventory balance was $$24,200.$Cost of goods manufactured during period was:a$\mathrm{.}233,000$ b$\mathrm{.}225,600$ c$\mathrm{.}288\mathrm{.}800$ d$\mathrm{.}240,4005$ points QUESTION $3$For which of the following businesses would the job order cost system be appropriate?a$.$Meat processor b$.$Auto manufacturer c$.$Oil refinery d$.$Construction contractor$5$ points QUESTION $4$If fixed costs are $ $250,000,$ the unit selling price is $ $125,$ and the unit variable costs are $ $73,$what is the break$-$even sales $($ units $)?$a$\mathrm{.}3,425$ units b$\mathrm{.}2,381$ units c$\mathrm{.}2,000$ units d$\mathrm{.}4,808$ units$5$ points QUESTION $5$If fixed costs are $ $500,000,$ the unit selling price is $ $55,$ and unit variable costs are $ $30,$what is the break$-$even sales $($units$)$ if fixed costs are increased by $ $80,000?$a$\mathrm{.}10,545$ units b$\mathrm{.}19\mathrm{.}333$ units c$\mathrm{.}23,200$ units d$\mathrm{.}25,000$ units$5$ points QUESTION $6$If fixed costs are $ $750,000$ and variable costs are $60\%$ of sales, what is thebreak$-$even point in sales dollars?a$.$$ $1\mathrm{.}250\mathrm{.}000$ b$.$$ $450,000$ c$.$$ $1\mathrm{.}875,000$ d$.$$ $300,0005$ points QUESTION $7$If sales are $ $914,000,$ variable costs are $ $498,130,$ and operating income is $ $260,000,$what is the contribution margin ratio?a$\mathrm{.}52\mathrm{.}2\%$ b$\mathrm{.}28\mathrm{.}4\%$ c$\mathrm{.}54\mathrm{.}5\%$ d$\mathrm{.}45\mathrm{.}5\%5$ points QUESTION $8$Spice Inc.$\text{'}$s unit selling price is $$60,$ the unit variable costs are $$35,$ fixed costs are $$125,000,$ and current sales are $10,000$ units.How much will operating income change if sales increase by $8,000$ units?a$.$$ $150,000$ decrease b$.$$ $175,000$ increase c$.$$ $200,000$ increase d$.$$ $150,000$ increase$5$ points QUESTION $9$The ABC Company estimates that total overhead costs for the current year will be $$15,000,000.$Total estimated machine hours will be $300,000$ hours.Actual total overhead costs for the year is $$16,000,000.$Actual total machine hours for the year are $330,000$ hours.What is the predetermined overhead rate based on machine hours for applying overhead?a$.$$ $48$ per machine hour b$.$$ $53$ per machine hour c$.$$ $45$ per machine hour d$.$$ $50$ per machine hour$5$ points QUESTION $10$The ABC Company estimates that total overhead costs for the current year will be $ $15,000,000.$Estimated total machine hours will be $300,000.$Actual overhead costs for the year is $ $16,000,000.$Actual machine hours for the year are $330,000.$If the ABC Company uses a predetermined overhead rate based on machine hours for applying overhead,as of this point $($ year to date $)$ the overhead is over$/$under applied by:a$\mathrm{.}1,000,000$ overapplied b$\mathrm{.}1,000,000$ underapplied c$\mathrm{.}500,000$ overapplied d$\mathrm{.}500,000$ underapplied$5$ points QUESTION $11$The Company has determined that its budgeted factory overhead for the year is $$7,750,000.$Factory plans to produce $1,000,000$ units.Budgeted direct labor hours are $525,000.$Budgeted machine hours are $375,000.$Using the single plantwide factory overhead rate based on direct labor hours, calculate the factoryoverhead rate for the year.a$.$$ $14\mathrm{.}76$ b$.$$ $20\mathrm{.}67$ c$.$$$7\mathrm{.}75$ d$.$$ $77\mathrm{.}505$ points QUESTION $12$The Rampao Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly.Data for the products and departments are listed below. Number of Labor hrs Machine hoursProduct units per unit per unitBlinks $1,00045$Dinks $2,00028$All of the machine hours take place in the Fabrication department, which has an estimated overhead of $ $84,000.$All of the labors hours take place in the Assembly department, which as an estimated overhead of $$72,000.$The Rampao Company uses a single overhead rate to apply all overhead to all departments and products on labor hours.What is the overhead rate per unit for Blinks?a$.$$ $78\mathrm{.}00$ b$.$$ $19\mathrm{.}50$ c$.$$ $37\mathrm{.}45$ d$.$$ $56\mathrm{.}005$ points QUESTION $13$The Rampao Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly.Data for the products and departments are listed below. Number of Labor hrs Machine hoursProduct units per unit per unitBlinks $1,00045$Dinks $2,00028$All of the machine hours take place in the Fabrication department, which has an estimated overhead of $ $84,000.$All of the labors hours take place in the Assembly department, which as an estimated overhead of $$72,000.$The Rampao Company uses a single overhead rate to apply all overhead to all departments and products on labor hours.What is the overhead rate per unit for Dinks?a$.$$ $77\mathrm{.}00$ b$.$$ $39\mathrm{.}00$ c$.$$ $19\mathrm{.}50$ d$.$$ $59\mathrm{.}92$