• Revenue per unit = $100
• Variable cost per unit = $45
• Total fixed costs $2,500

100 units were sold. Calculate net income.

Job 1: $1,000 of direct materials + 2,200 of direct labor + $1,800 of overhead applied = $5,000 total job cost

Job 2: $1,500 of direct materials + 2,500 of direct labor + $3,000 of overhead applied = $7,000 total job cost

Job 3: $4,000 of direct materials + 2,000 of direct labor + $2,000 of overhead applied = $8,000 total job cost

Job 4: $900 of direct materials + 1,200 of direct labor + $800 of overhead applied = $3,000 total job cost

Job 5: $4,000 of direct materials + 5,000 of direct labor + $3,000 of overhead applied = $12,000 total job cost

Jobs 2 and 3 are still in process. Jobs 1 and 4 have been sold. Job 5 is finished and waiting to be sold.

How much should be reported on the balance sheet for work in process inventory?

At the end of the accounting period, Gibby Company has under-applied overhead of $70,000. When the under-applied overhead is closed to cost of goods sold, cost of goods sold will _________ and net income will _________

Contribution margin ratio = 40% Total fixed costs = $36,000 Total revenue = $150,000 when 5,000 units are produced and sold What is the break-even point in units? Round your response to the next highest whole number. Do not include commas.

The following is the total cost at two different levels of activity:

• Total cost is $15,000 at 100 units
• Total cost is $29,000 at 200 units

Which type of cost is this?