Score 248 / 250 Multiple Choice 2 Short 2 Essay 7
Question 1:( TCO E) Designing a new product is a( n) 2. Question:( TCO G) Given the following data, what would ROI be? Sales $ 70,000 Net operating income $ 10,000 Contribution margin $ 20,000 Average operating assets $ 50,000 Stockholder ' s equity $ 25,000 1. Question:( TCO C) Longiotti Corporation produces and sells a sin gle product. Data concerning that product appear below. Selling price per unit $ 375.00 Variable expense per unit $ 144.00 Fixed expense per month $ 1,686,300 Required: Determine the monthly breakeven in units or dollar sales. Show your work! 2. Question:( TCO B) Maverick Corporation uses the weightedaverage method in its process costing system. Data concerning the first processing departme nt for the most recent month are listed below. Work in process, beginning: Units in beginning work in process inventory 400 Materials costs $ 6,900 Conversion costs $ 2,500 Percent complete for materials 80 % Percent complete for conversion 15 % Units started into production during the month 6,000 Units transferred to the next department during the month 5,600 Materials costs added during the month $ 112,500 Conversion costs added during the month $ 210,300