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Problem 1: Morris Company reported sales of $130,000 (15,000 units). Fixed costs amounted to $12,000 and income for the period was $70,000. Determine the per-unit variable cost.
Select one:
a. $4.66
b. $2.00
c. $3.20
d. $7.86
Problem 2: Which of the following statements concerning job cost sheets is incorrect?
a. A job cost sheet would show the direct materials used on that specific job
b. A job cost sheet would reveal the selling costs associated with a particular job
c. The total costs recorded on a job cost sheet should also be reflected in the Work in Process account in the general ledger
d. The amount of overhead on a job cost sheet is the applied factory overhead rather than the actual factory overhead
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