Reference no: EM132841462

Problem 1: Morris Company reported sales of $130,000 (15,000 units). Fixed costs amounted to $12,000 and income for the period was $70,000. Determine the per-unit variable cost.

Select one:

a. $4.66

b. $2.00

c. $3.20

d. $7.86

Problem 2: Which of the following statements concerning job cost sheets is incorrect?

Select one:

a. A job cost sheet would show the direct materials used on that specific job

b. A job cost sheet would reveal the selling costs associated with a particular job

c. The total costs recorded on a job cost sheet should also be reflected in the Work in Process account in the general ledger

d. The amount of overhead on a job cost sheet is the applied factory overhead rather than the actual factory overhead