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Costing-budget, variances, process costing

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Dear student,
Question 51: Manufacturing overhead
a) consists of all costs other than direct materials.
b) consists of all manufacturing costs other than direct materials.
c) consists of all costs other than direct materials and direct labor.
d) consists of all manufacturing costs other than direct materials and direct labor.
Ans: d) consists of all manufacturing costs other than direct materials and direct labor.

Question 52: The following forecasted sales pertain to Norah Company:
Month Sales
April $200,000
May 250,000
June 150,000
July 100,000

Collection pattern:
60 percent in month of sale
40 percent in month following the sale
Accounts receivable as of March 31 $35,000
Finished goods inventory as of March 31 4,000 units

The company has a selling price of $10 per unit and expects to maintain ending inventories equal to 20 percent of the next month's sales.

How many units are expected to be produced in April?
a) 21,000 units
b) 19,000 units
c) 25,000 units
d) 20,000 units
Ans: a) 21,000 units

Question 53: Figure 6-9
The following information is available for Department A for the month of January:
Units Cost
Work in process, January 1 (70% complete) 10,000
Direct materials ...

Solution Summary

The solution contains answers for thirteen questions covering budget,variances,process costing,return on investment,Just in time ,etc.,

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