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Which of the following statements are true? The costs attached to products that have not been sold are included in ending inventory on the balance sheet. In absorption costing, nonmanufacturing costs are assigned to units of product. Most countries require some form of absorption costing for external reports.

A job cost sheet is used to record (pick the most complete answer from the list below):

Data concerning LLX Corporation single product appear below: Selling price per unit $290.00 Variable production cost per unit $75.00 Fixed production costs $121,130 Sales commission per unit $3.30 Fixed selling expenses $40,200 The break-even in dollar sales is closest to: (Round your intermediate calculations to 2 decimal places.)

LLX Corporation has two production departments, Casting and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department’s predetermined overhead rate is based on machine-hours and the Customizing Department’s predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:   Casting Customizing Machine-hours 26,000 24,000 Direct labor-hours 15,000 10,000 Total fixed manufacturing overhead cost $ 140,400 $ 41,000 Variable manufacturing overhead per machine-hour $ 1.80   Variable manufacturing overhead per direct labor-hour   $ 4.60 The estimated total manufacturing overhead for the Customizing Department is closest to:

LLX Corporation produces and sells a single product. Data concerning that product appear below:   Per Unit Selling price $130 Variable expenses $78 Contribution margin $52 The company is currently selling 6,000 units per month. Fixed expenses are $263,000 per month. The marketing manager believes that a $5,000 increase in the monthly advertising budget would result in a 140 unit increase in monthly sales. What should be the overall effect on the company’s monthly net operating income of this change?

Data concerning LLX Corporation’s single product appear below: Selling price per unit $210.00 Variable expense per unit $96.50 Fixed expense per month $444,990 The unit sales to attain the company’s monthly target profit of $29,000 is closest to: (Do not round intermediate calculations.)

Manufacturing overhead costs are indirect product costs.

Which of the following is the correct formula to compute the predetermined overhead rate?

If a job is not completed at year end, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used.

In the answer area, start by entering a through e on five lines to properly label your 5 answers.  Then put your math calculations such as  ( 5 + 6 +9 +10 ) *1000 units for your answer.  You can use Ctrl+B to bold your final answer for each line.  You must show your work for the short answer questions to receive any credit.  Also without showing your work, one little math error will mean that all the following answers are wrong.  With work, you can earn full credit even with a math error.   SHOW YOUR WORK. LLX Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on these estimated amounts:  Total fixed manufacturing overhead cost of $280,000, variable manufacturing overhead of $2.25 per machine-hour, and 40,000 machine-hours. The company has provided the following data concerning Job ABC10 which was recently completed: Number of units in the job 25 Total machine-hours 100 Direct materials $ 740 Direct labor cost $1,580 Required: Answer the next 5 questions below after labeling 5 lines a. through e. a. What is the total estimated manufacturing overhead costs for the year? b. What is the estimated manufacturing overhead rate? c. What is the total manufacturing overhead costs assigned to job ABC10? d. What is the total cost of job ABC10? e. If the company marks up its unit product costs by 40%, what is the selling price of job ABC10?