Question
1. Y Company recently collected the following cost data. July had $32,000 of overhead and 4,200...
1. Y Company recently collected the following cost data. July had $32,000 of overhead and 4,200 labor hours. August had $28,500 of overhead and $3,400 labor hours. September had $24,000 overhead and 2,000 labor hours. October had $38,500 of overhead and 6,000 labor hours. November had $45,000 overhead and 9,000 labor hours. December had $41,000 overhead and 7,500 labor hours. If the company uses the high-low method then how much would total fixed costs be?
Group of answer choices
$18,000
$10,000
$8,000
$12,000
2. Accounting records show H Company had beginning direct materials
inventory of $9,000 and ending direct materials inventory of
$7,000. It had purchased $18,000 of direct materials during the
period. It had beginning work-in-process inventory of $16,000.
Direct labor for the period was $22,000 and factory overhead was
$28,000. Cost of Goods Manufactured for the period was $72,000. How
much is the ending balance in H Company’s work-in-process inventory
account?
Group of answer choices
$18,000
$12,000
$22,000
$20,000
$14,000
3. Z Corporation’s first month of operations showed the following
costs in manufacturing its product. Direct material cost per unit
was $14. Indirect materials (variable) cost per unit was $4. Direct
labor cost per unit was $8. Indirect labor (variable) cost per unit
was $6. Other variable factory overhead per unit was $10. Fixed
factory overhead cost per unit was $28. Variable selling expenses
per unit was $20. Fixed selling expenses per unit was $14. The
company made 4,000 units and sold 2,500 units. How much would the
ending inventory cost be using variable costing?
Group of answer choices
$63,000
$105,000
none of the other answers in correct
$78,000
$93,000
4. P Company’s costs to manufacture windows last period was $42,000
for direct labor and $25,500 for indirect labor and $34,500 for
direct materials and $4,500 for indirect materials and $3,450 for
factory utilities and $1,050 for insurance on manufacturing
equipment. How much was P Company’s overhead for the period?
Group of answer choices
$67,500
$34,500
$9,000
$111,000
$69,000
Homework Answers
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