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TEST QUESTIONS:

Questions 1-3 refer to the following:

The following selected data for March were taken from Rubenstein
Company's financial statements:

Cost of goods available for sale Manufacturing overhead
Cost of goods manufactured
Finished goods inventory ‑ ending
Direct materials used
Sales
Selling and administrative expenses
Direct labor
Work in process inventory ‑ beginning
$ 65,000
20,000
51,000
10,000
15,000
105,000
30,000
20,000
0

1. 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. The information below is from the financial records of the company for last year:

Total manufacturing costs $2,500,000
Cost of goods manufactured......

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Approximate Word Count: 3124
Approximate Pages: 13 (250 words per double-spaced page)

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