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MULTIPLE CHOICE-PROBLEMS The following costs relate to Antonio Industries for the last quarter: Conversion cost 1. What is Antonio's prime cost for last quarter? a. P 460,000 b. P 410,000 c. P 405,000 d. P 487.475 2. Antonio's tetal manufacturing cost is P 460,000 P 645,000 P 650,000 P 650.600 a. b. C. d. Direct materials Factory overhead is applied at 60% of direct labor cost. Selling and administrative expense 3. Antonio's total period cost is P 620,000 075.000 a. P 435,000 215,600 185,000

MULTIPLE CHOICE-PROBLEMS The following costs relate to Antonio Industries for the last quarter: Conversion cost 1. What is Antonio's prime cost for last quarter? a. P 460,000 b. P 410,000 c. P 405,000 d. P 487.475 2. Antonio's tetal manufacturing cost is P 460,000 P 645,000 P 650,000 P 650.600 a. b. C. d. Direct materials Factory overhead is applied at 60% of direct labor cost. Selling and administrative expense 3. Antonio's total period cost is P 620,000 075.000 a. P 435,000 215,600 185,000

FINANCIAL ACCOUNTING
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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Chapter 2 Costs - Concepts and Classifications 51 St Martin Company produced 5,500 outdoor chairs for Job Order No. 610. Total material cost was P 64,625. Each chair required 2.2 hours of direct labor at P8.90/per hour. A total of P67,306.25 of factory overhead was traced to Order 610. 6. What is the prime cost per unit of this order? a. P 19.586 b. P 28.980 7. What is the conversion cost per unit of this order? P 19.5813 b. P 28.9846 8. What is the unit cost of this order? a. P 43.5675 b. P 38.7700 c. P 31.330 d. P 38.778 During the month of August. Baesa Corporation produced 12,000 units and sold them for P20 per unit. Total, fixed cost for the period were P 154,000, and the operating profit was P 26,000.. c. P 29.3700 d. P 31.8175 9. Based on the foregoing information, the variable cost per unit is a. P 4.50 c. P 6.00 b. P 5.00 d. P 6.25 . 10. What is the variable cost per peso sales? a. P 0.33 b. P 0.47 c. P 28.0998 d. P 48.4625 Data to be used in applying the high-low method shows the highest cost of P69,000 and the lowest cost of P52,000. The data show P148.000 as the highest level of sales and P97,000 as the lowest level. 12. The variable cost per unit is a. P 16.00 b. P 15.00 c. P 0.54 d. P 3.00 Ravena Company manufactures office furniture. During the most productive month of the year, 3,500 desks were manufactured at a total cost of P84,400. In its slowest month, the company made 1,100 desks at a cost of P46,000. 11. Using the high-low method of cost estimation, the total fixed cost are a. P56.000 c. P17,600 b. P28,400 d. P38,400 c. P 14.00 d. P 17.00
Transcribed Image Text:Chapter 2 Costs - Concepts and Classifications 51 St Martin Company produced 5,500 outdoor chairs for Job Order No. 610. Total material cost was P 64,625. Each chair required 2.2 hours of direct labor at P8.90/per hour. A total of P67,306.25 of factory overhead was traced to Order 610. 6. What is the prime cost per unit of this order? a. P 19.586 b. P 28.980 7. What is the conversion cost per unit of this order? P 19.5813 b. P 28.9846 8. What is the unit cost of this order? a. P 43.5675 b. P 38.7700 c. P 31.330 d. P 38.778 During the month of August. Baesa Corporation produced 12,000 units and sold them for P20 per unit. Total, fixed cost for the period were P 154,000, and the operating profit was P 26,000.. c. P 29.3700 d. P 31.8175 9. Based on the foregoing information, the variable cost per unit is a. P 4.50 c. P 6.00 b. P 5.00 d. P 6.25 . 10. What is the variable cost per peso sales? a. P 0.33 b. P 0.47 c. P 28.0998 d. P 48.4625 Data to be used in applying the high-low method shows the highest cost of P69,000 and the lowest cost of P52,000. The data show P148.000 as the highest level of sales and P97,000 as the lowest level. 12. The variable cost per unit is a. P 16.00 b. P 15.00 c. P 0.54 d. P 3.00 Ravena Company manufactures office furniture. During the most productive month of the year, 3,500 desks were manufactured at a total cost of P84,400. In its slowest month, the company made 1,100 desks at a cost of P46,000. 11. Using the high-low method of cost estimation, the total fixed cost are a. P56.000 c. P17,600 b. P28,400 d. P38,400 c. P 14.00 d. P 17.00
50 MULTIPLE CHOICE-PROBLEMS The following costs relate to Antonio Industries for the last quarter: Conversion cost 1. What is Antonio's prime cost for last quarter? a. P 460.000 b. P 410,000 C. P 405,000 d. P 487.475 2. Antonio's tetal manufacturing cost is P 460,000 P 645,000 P 650,000 P 650.600 2. b. C. d. 3. Antonio's total period cost is P 620,000 P 275.000 a. b. Direct materials Factory overhead is applied at 60% of direct labor cost. Selling and administrative expense C. d. P 400,000 P 185,000. Month March Milktopia, Inc. produces and sells milk flavored bubble gum. Over the last five months Milktopia had the following production costs and production volume.. Volume (in cases) 12 14 18 19.. 17 April May June July Cost Accounting a. P 400 b. P 1,200 5.. The variable cost per case is a. P b. P Cost P 6,000 6,659 8,370 8.800 8,050 4.. Using the high-low method. what is the fixed cost per month for bubble gum production? 400 600 P 435,000 215,600 185,000 c. P 4.800 d. P 7,600 c. P 1.200 d. P 2.800
Transcribed Image Text:50 MULTIPLE CHOICE-PROBLEMS The following costs relate to Antonio Industries for the last quarter: Conversion cost 1. What is Antonio's prime cost for last quarter? a. P 460.000 b. P 410,000 C. P 405,000 d. P 487.475 2. Antonio's tetal manufacturing cost is P 460,000 P 645,000 P 650,000 P 650.600 2. b. C. d. 3. Antonio's total period cost is P 620,000 P 275.000 a. b. Direct materials Factory overhead is applied at 60% of direct labor cost. Selling and administrative expense C. d. P 400,000 P 185,000. Month March Milktopia, Inc. produces and sells milk flavored bubble gum. Over the last five months Milktopia had the following production costs and production volume.. Volume (in cases) 12 14 18 19.. 17 April May June July Cost Accounting a. P 400 b. P 1,200 5.. The variable cost per case is a. P b. P Cost P 6,000 6,659 8,370 8.800 8,050 4.. Using the high-low method. what is the fixed cost per month for bubble gum production? 400 600 P 435,000 215,600 185,000 c. P 4.800 d. P 7,600 c. P 1.200 d. P 2.800
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