Reference no: EM132579520
Question 1: A company's annual overhead costs are estimated to be $400,000 and direct labor costs to be $1,000,000. Actual overhead was $305,000, and actual labor costs totaled $1,100,000. How much is the company's predetermined overhead rate to the nearest cent?
a. $.31
b. $.40
c. $.28
d. .33
Question 2: Should we accept a special order for 1,000 at a selling price of $40 if our variable costs are $15 per unit and there would be an additional fixed costs of $12,000?
a. Yes, net income would go up by $25,000
b. No, net income would go down by $25,000
c. No, net income would go down by $13,000
d. Yes, net income would go up by $13,000
Question 3: Division 1 has the following information: Sales is $200,000; Variable costs are $130,000; Fixed costs are $100,000; leaving a loss of $30,000. If we drop division 1, 60% of the fixed costs could be saved. Should we drop division 1?
a. Yes, overall company net income would go up by $30,000
b. No, overall company net income would go down by $30,000
c. Yes, overall company net income would go up by $10,000
d. No, overall company net income would go down by $10,000
Question 4: Please determine the total amount of Direct Labor in our Budget for January and February together given the following information: Direct labor per unit = .25 hours; Direct labor rate is $30 per hour; Expected number of units to produce in January is 20,000 units and in February is 15,000 units.
a. $200,000
b. $235,000
c. $262,500
d. $285,000
Question 51: We prepared a budget based on manufacturing 20,000 chairs this month. Budgeted costs are: Fixed manufacturing costs = $50,000 per month; Variable manufacturing costs = $10 per chair. However; we actually produced 21,000 chairs during March. How much is the flexible budget for March?
a. $260,000
b. $50,000
c. $250,000
d. $200,000
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