MULTIPLE CHOICE. PLEASE ANSWER ALL ASAP. THANK YOU 11. Compute conversion costs
ID: 2431256 • Letter: M
Question
MULTIPLE CHOICE. PLEASE ANSWER ALL ASAP. THANK YOU
11. Compute conversion costs given the following data: direct materials, $380,800; direct labor, $194,600; factory overhead, $216,400 and selling expenses, $47,000.
a.$597,200
b.$791,800
c.$169,400
d.$411,000
12. The manufacturing cost of Calico Industries for three months of the year are provided below.
Total Cost
Production (units)
Using the high-low method, the variable cost per unit and the total fixed costs are
a.$4.32 per unit and $5,211
b.$2.40 per unit and $5,211
c.$0.43 per unit and $26,056
d.$0.24 per unit and $52,112
15. Use the information below for Nuthatch Corporation to answer the question that follow.
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business—September, October, and November—are $231,000, $300,000, and $408,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale.
The cash collections expected in October from accounts receivable are estimated to be
a.$168,000
b.$135,660
c.$240,408
d.$200,340
18. A firm operated at 80% of capacity for the past year, during which fixed costs were $190,000, variable costs were 61% of sales, and sales were $1,035,000. Operating profit was
a.$213,650
b.$403,650
c.$631,350
d.$170,920
22. Motorcycle Manufacturers, Inc. projected sales of 60,000 machines for the year. The estimated January 1 inventory is 6,440 units, and the desired December 31 inventory is 7,060 units. What is the budgeted production (in units) for the year?
a.60,000
b.59,380
c.46,500
d.60,620
23. Use the information below for Darwin Company to answer the question that follow.
Darwin Company's product costs are
a.$24,500
b.$29,200
c.$30,300
d.$35,000
24. Given the following data:
What is the amount of raw materials used?
a.$75,000
b.$55,000
c.$5,000
d.$30,000
Total Cost
Production (units)
April $120,200 283,700 May 90,700 160,100 June 106,600 244,800Explanation / Answer
11)conversion cost =380800+194600+216400=791800
Selling expense is not the part of conversion cost.
Option b is correct.
22)production budget =sales +closing stock-opening stock
=60000+7060-6440=60620units.
Option d is correct.
24)raw material used =opening stock+purchase - closing stock
=30000+65000-40000=55000
Option b is correct.
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