What was lewisburn operating income

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Reference no: EM13510191

For last year, Lewisburn Manufacturing reported the following:

Revenue

$420,000

Beginning inventory of direct materials, January 1

22,000

Purchases of direct materials

146,000

Ending inventory of direct materials, December 31

16,000

Direct manufacturing labor

18,000

Indirect manufacturing costs

40,000

Beginning inventory of finished goods, January 1

35,000

Cost of goods manufactured

104,000

Ending inventory of finished goods, December 31

36,000

Operating costs

140,000

 

What was Lewisburn's operating income?

A) $76,000 B) $177,000 C) $128,000 D) $280,000

9) For last year, Lewisburn Manufacturing reported the following:

Revenue

$420,000

Beginning inventory of direct materials, January 1

22,000

Purchases of direct materials

146,000

Ending inventory of direct materials, December 31

16,000

Direct manufacturing labor

18,000

Indirect manufacturing costs

40,000

Beginning inventory of finished goods, January 1

35,000

Cost of goods manufactured

104,000

Ending inventory of finished goods, December 31

36,000

Operating costs

140,000

 

How much of the above would be considered period costs for Lewisburn Manufacturing?

A) $140,000 B) $246,000 C) $104,000 D) $390,000

10) Rodney Worsham is paid $10 an hour for straight-time and $15 an hour for overtime. One week he worked 45 hours, which included 5 hours of overtime, and 3 hours of idle time caused by material shortages. Compensation would be reported as:

A) $450 of direct labor and $25 of manufacturing overhead

B) $445 of direct labor and $30 of manufacturing overhead

C) $420 of direct labor and $55 of manufacturing overhead

D) $370 of direct labor and $105 of manufacturing overhead

 

Reference no: EM13510191

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