Solve questions 7,9,10 with steps please. 7. A partial listing of costs incurred at Majan Corporation during July appears below:Direct labor$3,000Sales commissions$500CEO salaryIndirect Materials$1,000$2,000$1,500$800Electricity cost of headquarterDepreciation of factory equipmentDepreciation of administrative equipmentRent of factoryProperty taxes on the factoryCleaners' salary, administrative building$900$1,500$400$500The total of the period costs listed above for July is:A. $4,300B. $4,400C. $4,900D. $5,600. 9. Muscat company, reported the following results for January:Number of units10,000Selling priceTotal Variable selling expenseTotal Variable administrative expenseTotal fixed selling expenseTotal fixed administrative expenseMerchandise Beginning$10$7,000$10,000$20,000$8,000$5,000$50,000$10,000Based on traditional income statement Muscat company's net profit will be?Merchandise PurchaseMerchandise EndingA. $10,000B. $15,000C. $55,000D. $18,00010. Which of the following statement is correct about managerial accounting?A. Its prepared on annual basis.B. Creditors are considered one of the users of managerial accounting information.C. Data of managerial accounting is departmental focused.D. Managerial accounting information needs to be accurate.

7. A partial listing of costs incurred at Majan Corporation during July appears below: Direct labor $3,000 $500 Sales commissions CEO salary Indirect Materials $1,000 $2,000 $1,500 $800 Electricity cost of headquarter Depreciation of factory equipment Depreciation of administrative equipment Rent of factory Property taxes on the factory Cleaners' salary, administrative building $900 $1,500 $400 $500 The total of the period costs listed above for July is: A. $4,300 B. $4,400 C. $4,900 D. $5,600.|

7. A partial listing of costs incurred at Majan Corporation during July appears below: Direct labor $3,000 $500 Sales commissions CEO salary Indirect Materials $1,000 $2,000 $1,500 $800 Electricity cost of headquarter Depreciation of factory equipment Depreciation of administrative equipment Rent of factory Property taxes on the factory Cleaners' salary, administrative building $900 $1,500 $400 $500 The total of the period costs listed above for July is: A. $4,300 B. $4,400 C. $4,900 D. $5,600.|

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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