Chapter 002, Managerial Accounting and Cost Concepts

| October 3, 2018

78. The net operating income for the year (in thousands of
dollars) was:

A.
$410
B.
$110

C. $40

D.
$180

Lavell
Corporation reported the following data for the month of February:
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79. The total manufacturing cost for February was: A. $174,000
B. $171,000 C. $70,000 D. $108,000

80. The cost of goods manufactured for February was: A. $171,000
B. $174,000
C. $183,000 D. $159,000

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Chapter 002, Managerial Accounting and Cost Concepts

81. The cost of goods sold for February was: A. $225,000
B. $134,000
C. $184,000 D. $127,000

82. The net operating income for February was: A. $20,000
B. $116,000
C. $86,000 D. $60,000

Management
of Parrent Corporation has asked your help as an intern in preparing some key
reports for April. The company started the month with raw materials inventories
of $32,000. During the month, the company made raw materials purchases
amounting to $68,000. At the end of the month, raw materials inventories
totaled $35,000. Direct labor cost was $43,000 and manufacturing overhead was
$62,000. The beginning balance in the work in process account was $19,000 and
the ending balance was $12,000. The beginning balance in the finished goods
account was $35,000 and the ending balance was $58,000. Sales totaled $240,000.
Selling expense was $18,000 and administrative expense was $42,000.

83. The total manufacturing cost for April was: A. $170,000
B. $173,000 C. $62,000 D. $105,000

84. The cost of goods manufactured for April was: A. $177,000
B. $173,000
C. $170,000 D. $163,000

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Chapter 002, Managerial Accounting and Cost Concepts

85. The cost of goods sold for April was: A. $123,000
B. $200,000
C. $217,000 D. $154,000

86. The net operating income for April was: A. $26,000
B. $86,000
C. $75,000 D. $7,000

The
following data pertain to Harriman Company’s operations during July:
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87. The beginning work in process inventory was:

A.
$10,000

B. $14,000

C.
$1,000

D.
$4,000

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