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DATE
COURSE/SECTION
SCORE
OM 103: COST ACCOUNTING
QUIZ #1 2nd Semester SY 2012-2013
$ 90
50
100
$ 85
65
90
$365
680
765
250
NAME
DATE
COURSE/SECTION
SCORE
OM 103: COST ACCOUNTING
QUIZ #1 2nd Semester SY 2012-2013
c. $365.
d. $360.
9. Selected data concerning the past fiscal year's operations (000's omitted) of the Stanley Manufacturing
Company are presented below:
INVENTORIES
Beginning
Ending
Raw materials
Work in process
Finished goods
Other data:
Raw materials used
Total manufacturing costs charged to production during
the year (includes raw materials, direct labor, and factory
overhead)
Cost of goods available for sale
Selling and general expenses
$ 90
50
100
$ 85
65
90
$365
680
765
250
$125,000
55,000
60,000
Managment has decided that the mark-on percentage necessary to cover the products share of selling and
administrative expenses and to earn a satisfactory profit is 30%. The selling price per blanket should be:
NAME
DATE
COURSE/SECTION
SCORE
OM 103: COST ACCOUNTING
QUIZ #1 2nd Semester SY 2012-2013
a.
b.
c.
d.
$12.00.
$15.60.
$23.60.
$31.20.
15.Mountain Company produced 20,000 blankets in June to be sold during the holiday season. The
manufacturing costs were:
Direct materials
Direct labor
Factory overhead
Selling expense
Administrative expense
$125,000
55,000
60,000
25,000
30,000
$10,000
20,000
25,000
35,000
15,000
5,000
NAME
DATE
COURSE/SECTION
SCORE
OM 103: COST ACCOUNTING
QUIZ #1 2nd Semester SY 2012-2013
b. $650,000
c. $620,000
d. $535,000