. Question 17 (5 points) The assembly department had beginning...

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Question 1 (5 points) Question 5 (5 points) Super Discounter Inc. is a merchandiser who had inventory at the beginning of the year of $650,000. They made purchases of $2,000,000 and had returns and During FY 2020 Bay Manufacturing had total manufacturing costs are $436,000. allowances on purchases of $50,000. Ending inventory was $780,000. What was Their cost of goods manufactured for the year was $461,000. The January 1, 2021 the goods available for sale? balance of Work-in-Process Inventory is $59,000. Use this information to determine the dollar amount of the FY 2020 beginning Work-in-Process Inventory. Round to a Your Answer: whole number (no cents). Your Answer: Answer Question 2 (5 points) Answer Harley Company has sales of $500,000, variable costs are 75% of sales, and operating income is $40,000. What is Harley's operating leverage? Screen Shot 2022-... Q Oo.0 O 1.2 O 1.3 Question 6 (5 points) 3.1 Dorchester Company, on March 1, 2021 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Dorchester started into ... Screen Shot 202... Q production 16,500 units. At the end of the month there were 13,000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 60% complete with respect to conversion. For the month of March the following Question 3 (5 points) costs were incurred and recorded in the WIP Baltimore Manufacturing had a Work in Process balance of $80,000 on January 1, 2020. The year end balance of Work in Process was $60,000 and the Cost of Goods Direct Material $26,000 Manufactured was $650,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2020. Round to a whole number Direct Labor 32,000 (no cents). Your Answer: Factory Overhead 25,000 Dorchester uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of conversion for the month Answer of March. Round answer to closest cent. Question 4 (5 points) Saved Your Answer: Managers used managerial information for all of the following except to evaluate the company's stock performance Answer to determine the cost of manufacturing a product to support long-term planning decisions Screen Shot Screen Shot Screen Shot Screen Shot to analyze the performance of a company's operations 2022-0...t 13.57.02 2022-0...13.54.03 2022-0...19.46.32 2022-0...t 17.00.38

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Question 7 (5 points) Saved Question 11 (5 points) Saved Under which inventory costing method could increases or decreases in income from operations be misinterpreted to be the result of operating efficiencies or inefficiencies? Which of the following is part of factory overhead? only variable costing parts inventory only absorption costing both variable and absorption costing wages for supervisor of assembly department neither variable nor absorption costing cleaning supplies for machinery Question 8 (5 points) sales commissions Department B had 3,000 units in Work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units were started during the period. 15,000 units were completed during the period, and 1,700 units were 80% completed at the end of the period. All materials are added at the beginning of the process. Material Question 12 (5 points) Saved cost was $15,400, direct labor was $32,450, and factory overhead was $18,710. The number of equivalent units of The contribution margin ratio is computed as: production for the period for conversion if the weighted average method is used to cost inventories was 15,000 sales divided by contribution margin 16,360 O contribution margin divided by sales dollars 1,700 O contribution margin divided by cost of sales 13, 700 contribution margin divided by variable cost of sales ... Screen Shot 2022-... Q Question 9 (5 points) Saved ... Screen Shot 2022-09-19 at 13.56.37 All of the following are characteristics of a process cost system except the system may use several work in process inventory accounts Question 13 (5 points) manufacturing costs are grouped by department rather than by jobs The quantity factor tells us how much additional revenue changed for the additional quantity sold at the planned the system accumulates costs per job price. The price factor tells us how much revenue changed on actual total sales due to the price being different than planned. the system emphasizes time periods rather than the time it takes to complete a job Edna's Chocolates had planned to sell chocolate-covered strawberries for $3.00 each. Due to various factors, the actual price was $2.75. Edna's was able to sell 1,000 more strawberries than the anticipated 4,000. What is (1) the Question 10 (5 points) quantity factor and (2) the price factor for sales? During March 2021, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead. Virginia Bay's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $280,000 would be incurred, and 7,200 direct labor hours would O (1) $3,000, (2) $(1,250) be worked. During March, 11,000 hours were actually worked. Use this information to determine the standard overhead rate. Round to closest cent. O (1) $3,000, (2) $(3,000) Your Answer: (1) $1,250, (2) $3,000 O (1) $(4,000) (2) $(3,000)

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Question 13 (5 points) The quantity factor tells us how much additional revenue changed for the additional quantity sold at the planned price. The price factor tells us how much revenue changed on actual total sales due to the price being different than 20 planned. Edna's Chocolates had planned to sell chocolate-covered strawberries for $3.00 each. Due to various factors, the actual price was $2.75. Edna's was able to sell 1,000 more strawberries than the anticipated 4,000. What is (1) the quantity factor and (2) the price factor for sales? Question 16 (5 points) (1) $3,000, (2) $(1,250) Annapolis Clothing Company manufactures quality boating attire. The following selected financial information for the fiscal year 2020 is provided: (1) $3,000, (2) $(3,000) Item Amount (1) $1,250, (2) $3,000 (1) $(4,000) (2) $(3,000) Sales $200,000 Question 14 (5 points) Cost of Goods Manufactured 47,000 March 1, 2020, Dorchester Company's beginning work in process inventory had 9,000 units. This is its Direct Material Purchased 80,000 only production department. Beginning WIP units were 50% complete as to conversion costs. Dorchester introduces direct materials at the beginning of the production process. During March, all Factory Overhead 20,000 beginning WIP was completed and an additional 12,500 units were started and completed. Dorchester 20 also started but did not complete 7,500 units. These units remained in ending WIP inventory and were Work in Process - January 1 60,000 50% complete as to conversion costs. Dorchester uses the weighted average method. Use thi information to determine for March 2020 the equivalent units of production for conversion costs. Work in Process - December 31 30,000 Round to whole number (no cents). Direct Material - December 31 20,000 Your Answer: Finished Goods Inventory - 34,000 Screen Shot 2022-09-19 at... Q December 31 Net Income 30,000 Question 15 (5 points) Strait Co. manufactures office furniture. During the most productive month of the year, 3,000 desks were Direct Materials used 60,000 manufactured at a total cost of $59,000. In the month of lowest production the company made 1, 125 desks a of $38,000. Using the high-low method of cost estimation, the total fixed costs are Cost of Goods Sold 66,000 $21,000 Use this information to determine the dollar amount of Annapolis Clothing's Finished Goods Inventory for January 1, 2020. Round to a whole number (no cents). O $25,400 Your Answer: O $42,000 $13,000 Answer

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Question 17 (5 points) The assembly department had beginning work in process of 17,000 units. ending work in process of 25,000 units and units transferred out of 70,000 units. What was the number of units started or transferred in? Your Answer: Answer Question 18 (5 points) Saved Job order costing and process costing are I inventory tracking systems I) pricing systems cost flow systems {9:3 cost accounting system 5 O O Eljv ScreenShot 2022-... (D Q Q Question 19 (5 points) Reynolds Manufacturers Inc. has estimated total factory overhead costs of $95,000 and expected direct labor hours of 9,500 for the current fiscal year. lfjob number 117 incurs 2,300 direct labor hours, Work in Process will be debited and Factory Overhead will be credited for 0 $23,000 0 $21,850 0 $2,300 0 $95,000

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