ireox Company\'s selected cost data Cost of Goods Manufactured Work-in-Process I
ID: 2518972 • Letter: I
Question
ireox Company's selected cost data Cost of Goods Manufactured Work-in-Process Inventory Direct Materials Used for 2015 are shown below $145,200 18,500 Inventory, Dec. 31,2013 What is the total of 15,800 A) $139,800 g costs incurred by Fireox Company in 20157 B) $149,200 C) $117,100 41) Jasper Inc. reports the following cost information for March: D) $158,300 Cost of Goods Manufactured 41) Manufacturing Overhead Finished Goods Inventory, March 31 Work-in-Process Inventory, March 31 $75,000 18,250 4,500 2,650 9,670 1,250 Direct Materials Used What is the amount of direct labor incurred by Jasper in March? A) $23,030 B) $39,870 C) $29,600 D) $126,970 42) Nurix Inc. is a business consulting firm. During the month of February, Nurix eamed $55,400 of 4) revenues by providing services to 45 clients. Operating expenses for February were $8,500 and non-operating expenses were $4,500 What is the cost per service? B) $288.00 C) $942.22 D) $100.00 A) $188.88 43) Five Seasons is a merchandiser of packed foods. The company providesthe following information 43) for the year 2015 Sales Revenue Cost of Goods Sold Operating Expenses Net Income Number of Units Sold $140,000 $63,000 $67,500 $9,500 27,000 D)$0.82 C) $5.18 How much was the unit cost per unit of product sold? B) $3.14 A)$2.33Explanation / Answer
Answer
40.
Total Manufacturing Cost = Cost of Goods Manufactured + Closing WIP – Opening WIP
= 145,200 + 22,500 – 18,500
Total Manufacturing Cost = $149,200
Answer = B
41.
Direct Labor = Cost of Goods Manufactured + Closing WIP –Opening WIP – Manufacturing Overhead – Direct Material Used
= 75,000 + 1,250 – 9,670 – 18,250 – 25,300
Direct Labor = $23,030
Answer = A
42.
Cost per service = Operating Expenses / 45 Clients
= $8,500 / 45
Direct Labor = $188.88
Answer = A
43.
Cost per unit = Cost of Goods Sold / No. of Units Sold
= $63,000 / 27,000 Units
Cost per unit = $2.33 per unit
Answer = A
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