19. A tire store purchased 53,800 of tires in September. The store had S1,500 of

Question

19. A tire store purchased 53,800 of tires in September. The store had S1,500 of tires o hand at the beginning of September, and expected to have $1,300 of tires at the end of September to goods sold for September? a. $4,000 b. $3,600 c. $6,600 d. $5,300 cover part of anticipated October sales. What is the budgeted cost of 20. Horvath Corporation had beginning inventory of 22,000 units and expects sales of 76,500 units during the year. Desired ending inventory is 19,500 units How many units should Horvath Corporation produce? 74000 units b. 79,000 units c. 35,000 units d. 118,000 units 21. A favorable material price variance coupled with an unfavonable manerial usage variance would MOST likely result from: a. Problems with processing machines b. The parchase of low quality materials. e. Problems with labor efficiency d. Changes in the product mix. 22. An unfirvorable labor efficiency variance indicates that a. The actual labor rate was higher than the standard laber rate b. The labor rate varianoe mast also be unfavorable. c. Actual labor hours worked exceoded standard labor hours for the production level achieved Overtime labor was used during the period. None of the above d. e. 23. Marienta Piping Corporntion provides the following information albout its single product Targeted operating income Selling price per unit Variable cost per unit Total fixed cost $60,000 $120.00 45.00 $90,000 How many units must be sold to earn the targeted operating income a. 800 b 1,200 c 2,000 d. 909

Explanation / Answer

COGS = Opening inventory + Purchases – ending inventory

           = 1500 + 3800 – 1300

            = 4000 (A)

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Purchase = sales – opening inventory + ending inventory

                = 76500 – 22000 + 19500

                 = 74000 (A)

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