O'Briens Company, Which Has Only One Product, Has Provided the Following

question 136

Multiple Choice

O'Briens Company, which has only one product, has provided the following data concerning its most recent month of operations:
$\begin{array} { | l | r | } \hline \text { Selling price } & \$ 165 \\\hline \text { Units in beginning inventory } & 0 \\\hline \text { Units produced } & 4,300 \\\hline \text { Units sold } & 3,800 \\\hline \text { Units in ending inventory } & 500 \\\hline \text { Variable costs per unit: } & \\\hline \text { Direct materials } & \$ 31 \\\hline \text { Direct labour } & \$ 43 \\\hline \text { Variable manufacturing overhead } & \$ 5 \\\hline \text { Variable selling and administrative } & \$ 8 \\\hline \text { Fixed costs: } & \\\hline \text { Fixed manufacturing overhead } &\$ 165,400 \\\hline \text { Fixed selling and administrative } & \$ 80,200 \\\hline\end{array}$


-What was the unit product cost for the month under variable costing?

• A) $79.
• B) $87.
• C) $115.
• D) $124.

Prepare necessary journal entries for payroll adjustments.

Calculate and adjust for supplies and insurance expense adjustments.

Prepare and understand the adjusted trial balance.

Understand and apply methods for accounting for unearned and earned revenues.

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