The effect of exercise on blood lipoprotein levels is to:

Beta-sitosterolemia results from a genetic mutation in:

Which of the following statements describes variable costs?

The materials requisition slip showed that direct materials requested were $66,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is:

Problem II- (A) – (10 points)   Identify each cost below as variable (V), fixed (F), or mixed (M).   Steel used in the production of automobiles –   Fuel used in delivery trucks –   Straight-line depreciation on factory building –   Navigation systems installed in the production of automobiles –   Sales Staff Salaries –   Hourly wages of workers who work on the assembly line for a manufacturing    company –   Salaries of factory supervisors –   Sales commissions –   Telephone bill where the company is charged $100 per month for up to 500 minutes, and 5 cents per minute for the number of minutes above 500 –   Property taxes on manufacturing facility –    

Problem I- (A) – (8 points)  Journalize the following entries for Wiley Company.   (1)  Purchased raw materials for $50,000 on account.  (2)  Raw materials requisitioned for production in a process costing were:            Direct materials                 Mixing department                                     $20,000                 Finishing department                                   14,000   (3)  Factory labor used: $50,000, of which $20,000 was indirect:            Mixing department                                          $40,000            Finishing department                                        10,000   (4) Other factory overhead incurred $45,000, (credit accounts payable)    (5)  Manufacturing overhead is applied to the products based on machine hours used in each department:            Mixing department—400 machine hours at $30 per machine hour.            Finishing department—500 machine hours at $20 per machine hour.  (6)  Units costing $56,000 were completed in the Mixing Department and were transferred to the Finishing Department.  (7)  Units costing $70,000 were completed in the Finishing Department and were transferred to finished goods. (8)  Finished goods costing $40,000 were sold on account for $55,000.      

The materials requisition slip showed that direct materials requested were $66,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is:

Problem I- (A) – (8 points)  Journalize the following entries for Wiley Company.   (1)  Purchased raw materials for $50,000 on account.  (2)  Raw materials requisitioned for production in a process costing were:            Direct materials                 Mixing department                                     $20,000                 Finishing department                                   14,000   (3)  Factory labor used: $50,000, of which $20,000 was indirect:            Mixing department                                          $40,000            Finishing department                                        10,000   (4) Other factory overhead incurred $45,000, (credit accounts payable)    (5)  Manufacturing overhead is applied to the products based on machine hours used in each department:            Mixing department—400 machine hours at $30 per machine hour.            Finishing department—500 machine hours at $20 per machine hour.  (6)  Units costing $56,000 were completed in the Mixing Department and were transferred to the Finishing Department.  (7)  Units costing $70,000 were completed in the Finishing Department and were transferred to finished goods. (8)  Finished goods costing $40,000 were sold on account for $55,000.      

If the unit selling price is $16, the unit variable cost is $12, and fixed costs are $160,000, what is the break-even sales (units)?

Process A had no beginning work in process, but completed and transferred out 85,000 units during a period and had 50,000 units in the ending work in process inventory that were 30% complete. The equivalent units of production for the period were: