Accounting Questions

1. Consider the following costs incurred in a recent period:

Direct materials $34,200
Depreciation on factory equipment $14,000
Factory janitor's salary $24,500
Direct labor $29,100
Utilities for factory $10,200
Selling expenses $17,800
Production supervisor's salary $35,500
Administrative expenses $21,600

What was the total amount of the period costs listed above for the period?

a. $67,300
b.$49,600
c.$84,200
d.$39,400

2. Haan Inc. is a merchandising company. Last month the company's cost of goods sold was $67,000. The company's beginning merchandise inventory was $13,600 and its ending merchandise inventory was $16,400. What was the total amount of the company's merchandise purchases for the month?

a.$69,800
b.$97,000
c.$64,200
d.$67,000

3. Management of Solman Corporation has asked your help as an intern in preparing some key reports for June. The beginning balance in the raw materials inventory account was $21,400. During the month, the company made raw materials purchases amounting to $69,800. At the end of the month, the balance in the raw materials inventory account was $30,400. Direct labor cost was $25,700 and manufacturing overhead was $73,000. The beginning balance in the work in process account was $25,000 and the ending balance was $17,900. The beginning balance in the finished goods account was $53,100 and the ending balance was $57,500. Selling expense was $20,800 and administrative expense was $35,500.

The conversion cost for June was:

a.$95,500
b. $98,700
c.$159,500
d.$142,800

4. The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the just completed year.

Sales $921
Raw materials inventory, beginning $89
Raw materials inventory, ending $18
Purchases of raw materials $116
Direct labor $128
Manufacturing overhead $200
Administrative expenses $159
Selling expenses $123
Work in process inventory, beginning $27
Work in process inventory, ending $18
Finished goods inventory, beginning $113
Finished goods inventory, ending $145

The cost of goods manufactured (finished) for the year (in thousands of dollars) was:

a.$187
b.$524
c.$542
d.$560