Managerial Accounting Test

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The gross margin was: 1. $55,000. 2. $54,000. 3. $50,000. 4. $40,000. 2. The beginning finished goods inventory was: 1. $24,000. 2. $ 9,000. 3. $10,000. 4. $14,000. 3. The ending work in process inventory was: 1. $ 4,000. 2. $ 8,000. 3. $10,000. 4. $0. 4. Farber Company uses a job order cost system...
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$14,000. 3. The ending work in process inventory was: 1. $ 4,000. 2. $ 8,000. 3. $10,000. 4. $0. 4. Farber Company uses a job order cost system. The information below is from the financial records of the company for last year: Total manufacturing costs $2,500,000 Cost of goods manufactured $2,425,000 Predetermined overhead rate 80% of direct labor cost Applied overhead was 30% of total manufacturing costs...
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