38. A manufacturing company has a beginning finished goods inventory

38.

A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured of $32,500, and an ending finished goods inventory of $17,800. The cost of goods sold for this company is:

A.

$21,200.

B.

$29,300.

C.

$32,500.

D.

$47,100.

E.

$27,600.

39.

A company’s prime costs total $3,000,000 and its conversion costs total $7,000,000. If direct materials are $1,000,000 and factory overhead is $5,000,000, then direct labor is:

A.

$4,000,000.

B.

$14,000,000.

C.

$2,000,000.

D.

$1,000,000.

E.

$3,000,000.

40.

Ajax Company accumulated the following account information for the year:

Using the above information, total factory overhead costs would be:

A.

$ 9,800.

B.

$16,800.

C.

$15,800.

D.

$13,000.

E.

$ 7,800.

41.

A company issues bonds with a par value of $800,000 on their issue date. The bonds mature in 5 years and pay 6% annual interest in two semiannual payments. On the issue date, the market rate of interest is 8%. Compute the price of the bonds on their issue date. The following information is taken from present value tables:

42.

Use the following calendar-year information to prepare David Company’s statement of cash flows using the direct method:


43.

The following information is from Omega Corporation’s balance sheets as of December 31, 2009, and 2010 and its income statement for 2010:


From the above information, calculate the following ratios for 2010:
(a) Inventory turnover.

(b) Accounts receivable turnover.

(c) Return on total assets.(d) Times interest earned.(e) Total asset turnover.

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