FIN 073 P1 QUIZ 1, PART 2 Name | dita Ab ME 6. ‘SCORE ( course | 324 DATE G7. 0-03 INSTRUCTIONS: Choose the best answer by encircling the letter with the best answer. o e following costs were incurred in July Direct materials 35,000 Direct labor P 13,000 ‘Manufacturing overhead 15,000 Selling expenses P 14,000 Administrative expenses 30,000 Prime costs during the month totaled: @ 48,000 ee oe 8) 28,000 c) 107,000 D)~ 63,000 2, Abel Company's manufacturing overhead is 20% 7 ofits total conversion costs. If direct labor is 38,000 and if direct materials are P47,000, the manufacturing overhead is: A) 152,000 B) 11,750 <) _-P21,250 [~~ P9,500 juring the month of July, direct labor cost totaled P'12,000 and direct labor cost was 30% Of prime cost. If total manufacturing costs during ‘July were 86,000, the manufacturing overhead 46,000 he e B) 40,000 a ©) —_-P28,000 D) 74,000 in July direct labor was 40% of conversion cost. Ifthe manufacturing overhead cost for the month was P34,000 and the direct materials cost was 23,000, the direct labor cost was: A) (P22.667 oe ie 8) P16,333 seat ©) P51,000 34,500 _ SC Comssr eave cs Direct materials 33,000. Depreciation on factory equipment 42,000" Factory janitor’s salary 23,000 Direct labor P:28,000x sities for factory P9,000- Salling expenses 16,000" Production supervisor's salary 34,000 ‘Administrative expenses 21,000" What is the total amount of manufacturing overhead included above? 78,000" 8) —_P139,000 ©) 44,000 D) —_P37,000 °G/ The information below relates to Derby Manufacturing Company's operations for a recent month, (Assume that all raw materials are direct materials. Purchases of raw materials 91,000 Direct labor cost 122,000 Solling costs (total) 42,000 Administrative costs ((otal) 56,000 Manufacturing overhead casts (total) 340,000 Raw materials inventory, beginning _P22,000 Work in process inventory, beginning 27,000 Finished goods inventory, beginning 42,000 Raw materials inventory, ending 7,000 Work in process inventory, ending _--P35,000 Finished goods inventory, ending P 15,009 wt for the month? A) P545,000 B) —_P560,000 ©) 568,000 ss Derby's cost of goods manufacturet 587,000 7. Consider the following costs incurred in a recent period: Direct materials 33,000 Depreciation on factory equipment 12,000. Factory janitor’s salary 23,000 Direct labor 28,000 lilies for factory 9,000 Selling expenses, 16,000P1 QUIZ COST-VOLUME-PROFIT ANALYSIS ° ‘ fore: NAME: MOMs SCORE: a : INSTRUCTIONS: Wht the letir of your answer BEFORE each number. NO ERASURES © A safiendoson sells a single product for PSO that has a variable cost of P30. Fixed costs 2 ee unt to PS per unt when anticipated sales targets are met. ifthe company sells one unit itt 4 ‘excess ofits break-even volume, the botiorine prof will be iT & PI5. B. P20. C. P60: ©. None, 74 Babies iia voline'ci 15000, uns, Boston reported sales revenues of PODD,000,varale costs Gwime / Ibm 7 6FP226,000, and faxed costs of 120,000. The company’s contribution margin per unis: 93S cam w= 4x Ay PST. B. P25. C. P47. ‘D. PSS. L 1 Bo enn Income statement of Banks Corporation reported the following data: Sales revenue 8,000,000 Yih il. Gd TM) We yg Balan a Variable costs 5,000,000 Wye A) TAN W Wyo Ue Fixed costs 2,200,000 keg 5 wer we ™ Ifthese data are based on the sale of 20,000 units, the contribution ‘margin per Unit would be: ee ‘A. P40, 8 Pi60 c. P00, D. Paeo. : ae. . i revenue 3,600,000 aw hone Variable costs 4,600,000 ib os Fixed costs 4,000,000 ae ifthese data are based onthe sale of 10,000 uns the break-even pop would be, =I7# A. 2,000 units 8 2.778 unts ©. 3,600 unis 2 6,000 units, Age acer ect ctonert ‘of Yale Corporation reported the following data i. Fe pie ‘Sales revenue yu P2,500,000 (yg ers oma, & Ge Variable costs te 1,500,000 “MA? 5 Jie s Fixed costs. “Ah "800,000 _ St Ifthese data are based on the sale of 5,000 units, the break-even sales would be ‘A. P2,000,000, 8. P2,208,000, © P2,600,000. D. P10,000,000, Earn, ns se proit or 2. Vara cots i P pert ae oad cot {otal P360,000 at a volume level of 60,000 units. Assuming that fixed costs do not change, Lawton's break-even point would be yea ‘A. 30,000 units ree di B. 45,000 units. ee —= © 90,000 unis. feel ee 4400 D_ negative because the company loses P2 on every uit sold gp, PM gy E, a positive amount other than those given above ONE au jateen Ine., sells single product for P20. Variable costs are P& per unit and fixed costs 24s Tofel P120,000 at a volume level of 5,000 units. Assuming that fixed costs do nak change Green's break-even sales would be Hie ‘A.P160,000. B P200,000 ©. P309,000. . P480,000 4 8, on recent reported sales revenues of P800,000, a total contibution margin of zm $7.360,000, and fixed costs of P180,000, If Sales volume amounted to 10,000 unfe, the ‘company’s variable cost per unt must have been A PIR B P32 ©. Ps, D. Pee ’ y Strand has a break-even point of 120,000 units. Ifthe firmis sole product sells for P40 and fed costs total P480,000, the variable cost per unit must be A PS, B. P36, ©. Pas, D. NONE Page 1 of 4 age aGreetings, In correspondence to the need of submitting prior quizzes, only several papers were redistributed back to me and consequently precludes me from satisfying the requirements. However, a8 per custom, upon submission of papers after tests, to which most often had already been checked, scores had and will at least be recorded either on the same day and or days after although not beyond a week. I believe the same records remain in custody of our preceding, instructor in the subject and would kindly like to use those records in fulfilment of the requisites Thank youl And God Bless! Your studeat, Aron Ace G. Aveo