1.
The following costs were incurred in April:
|
Direct materials |
$41,400 |
|
Direct labor |
$29,800 |
|
Manufacturing overhead |
$24,300 |
|
Selling expenses |
$19,700 |
|
Administrative |
$34,500 |
Conversion costs during the month totaled:
$71,200
$65,700
$54,100
$149,700
2.
The following costs were incurred in April:
|
Direct materials |
$39,700 |
|
Direct labor |
$23,200 |
|
Manufacturing overhead |
$24,000 |
|
Selling expenses |
$20,300 |
|
Administrative |
$33,900 |
Prime costs during the month totaled:
$47,200
$86,900
$62,900
$141,100
3.
|
Haab Inc. is a merchandising company. Last month the |
$104,700
$52,300
$82,700
$67,500
4.
|
At a sales volume of 35,500 units, Carne Company’s sales |
|
To the |
$712,620
$755,413
$701,100
$727,750
5.
|
Calip Corporation, a merchandising |
|
Sales |
$419,000 |
|
Cost of goods sold |
$175,500 |
|
Total variable selling |
$23,600 |
|
Total fixed selling |
$17,200 |
|
Total variable |
$15,400 |
|
Total fixed |
$31,400 |
|
The contribution margin for |
$204,500
$155,900
$370,400
$243,500
6.
|
Nieman Inc., a local retailer, has |
|
Merchandise inventory, |
$49,300 |
|
Merchandise inventory, |
$44,200 |
|
Sales |
$260,700 |
|
Purchases of |
$142,400 |
|
Selling expense |
$20,100 |
|
Administrative expense |
$60,100 |
|
The cost of goods sold for March |
$222,600
$137,300
$147,500
$142,400
7.
|
Nieman Inc., a local retailer, has |
|
Merchandise inventory, |
$ |
|
Merchandise inventory, |
$ |
|
Sales |
$263,100 |
|
Purchases of |
$137,600 |
|
Selling expense |
$ |
|
Administrative expense |
$ |
|
The net operating income for March |
$125,500
$126,500
$46,900
$46,300
8.
In April direct labor was 70% of conversion cost. If the
manufacturing overhead for the month was $42,000 and the direct materials cost
was $28,000, the direct labor cost was:
$98,000
$65,333
$18,000
$12,000
9.
The following cost data pertain to the operations of Rademaker
Department Stores, Inc., for the month of March.
|
Corporate headquarters building |
$80,000 |
|
Cosmetics Department sales |
$7,000 |
|
Corporate legal office salaries |
$75,000 |
|
Store manager’s salary-Northridge |
$11,000 |
|
Heating-Northridge Store |
$11,000 |
|
Cosmetics Department cost of |
$83,000 |
|
Central warehouse lease cost |
$17,000 |
|
Store security-Northridge Store |
$11,000 |
|
Cosmetics Department manager’s |
$4,000 |
The Northridge Store is just one of many stores owned and operated by the
company. The Cosmetics Department is one of many departments at the Northridge
Store. The central warehouse serves all of the company’s stores.
What is the total amount of the costs listed above that are direct costs of the
Cosmetics Department?
$83,000
$94,000
$90,000
$127,000
10.Corcetti Company manufactures and sells prewashed denim jeans.
Large rolls of denim cloth are purchased and are first washed in a giant
washing machine. After the cloth is dried, it is cut up into jean pattern
shapes and then sewn together. The completed jeans are sold to various retail
chains.
Which of the following terms could be used to correctly describe the cost of
the soap used to wash the denim cloth?
|
Direct Cost |
Product Cost |
|
|
A) |
Yes |
Yes |
|
B) |
Yes |
No |
|
C) |
No |
Yes |
|
D) |
No |
No |
Option
A
Option
B
Option
C
Option
D
11.Ence Sales, Inc., a merchandising company, reported sales of
6,400 units in April at a selling price of $684 per unit. Cost of goods sold,
which is a variable cost, was $455 per unit. Variable selling expenses were $30
per unit and variable administrative expenses were $40 per unit. The total
fixed selling expenses were $156,800 and the total administrative expenses were
$260,400.
The gross margin for April was:
$1,465,600
$3,960,400
$1,017,600
$600,400
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