1. In February, one of the processing departments at Whisenhunt Corporation had

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1. In February, one of the processing departments at Whisenhunt Corporation had beginning work in process inventory of $36,000 and ending work in process inventory of $21,000. During the month, the cost of units transferred out from the department was $511,000. In the department's cost reconciliation report for February, the total cost to be accounted for would be: $568,000 $532,000 $547,000 $57,000 2. Nando Company uses the weighted-average method in its process costing system. Department J is the second of three sequential processes at the company. During October, Department J collected the following data: Labor and Overhead Units Percentage Complete Work in process, October 1 9,100 60% Units started 30,000 Completed and transferred 25,000 Work in process, October 31 14,100 20% Costs for October Transferred In Materials Labor and Overhead Work in process, October 1 $40,000 $17,000 $ 31,500 Added during the month $77,300 $108,120 $191,060 All materials are added at the beginning of the process. The total cost assigned to ending work in process inventory was: (Round your intermediate calculations to 2 decimal places.) $70,120 $109,980 $161,380 $87,420 3. At a sales level of $98,000, Blue Company's contribution margin is $16,000. If the degree of operating leverage is 5 at a $98,000 sales level, net operating income must equal: $19,600 $3,200 $12,800 $16,400 4. Mark Corporation produces two models of calculators. The Business model sells for $60, and the Math model sells for $30. The variable expenses are given below: Business Model Math Model Variable production costs per unit $20 $21 Variable selling and administrative expenses per unit $ 10 $ 7 The fixed expenses are $85,000 per month. The expected monthly sales of each model are: Business, 2,000 units; Math, 1,500 units. The contribution margin ratio for the Business model is: (Do not round intermediate calculations.) 30% 50% ?? 70% 80%

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70%

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