Reference no: EM132742780
Problem 1: At the beginning of the period, the Assembly Department budgeted direct labor of $110,000, direct materials of $170,000, and fixed factory overhead of $28,000 for 8,000 hours of production. The department actually completed 10,000 hours of production. The appropriate total budget for the department, assuming it uses flexible budgeting, is
a. $378,000
b. $350,000
c. $305,000
d. $288,000
Problem 2: If sales are $425,000, variable costs are 62% of sales, and operating income is $50,000, the contribution margin ratio is
a. 11.8%
b. 38.0%
c. 26.8%
d. 62.0%
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