13 harwichport company has a current ratio of 3 0 and an acid test ratio of 2 8 c 380356

13. Harwichport Company has a current ratio of 3.0 and an acid test ratio of 2.8. Current assets equal $210,000, of which $5,000 consists of prepaid expenses. The remainder of current assets consists of cash, accounts receivable, marketable securities, and inventory. What is the amount of Harwichport Companys inventory? 14. Tolla Company is estimating the following sales for the first six months of next year: January $350,000 February $300,000 March $320,000 April $410,000 May $450,000 June $470,000 Sales at Tolla are normally collected as 70 percent in the month of sale, 25 percent in the month following the sale, and the remaining 5 percent being uncollectible. Also, customers paying in the month of sale are given a 2 percent discount. Based on this information, how much cash should Tolla expect to collect during the month of April? 15. Trauscht Corporation has provided the following data from its activity based costing system: The company makes 360 units of product P23F a year, requiring a total of 725 machine hours, 85 orders, and 45 inspection hours per year. The products direct materials cost is $42.30 per unit and its direct labor cost is $14.55 per unit. The product sells for $132.10 per unit. According to the activity based costing system, what is the product margin for product P23F? 16. Williams Companys direct labor cost is 30 percent of its conversion cost. If the manufacturing overhead for the last period was $59,500 and the direct materials cost was $37,000, what is the direct labor cost? 17. In a recent period, 13,000 units were produced, and there was a favorable labor efficiency variance of $23,000. If 40,000 labor hours were worked and the standard wage rate was $13 per labor hour, what would be the standard hours allowed per unit of output? 18. The balance in White Companys work in process inventory account was $15,000 on August 1 and $18,000 on August 31. The company incurred $30,000 in direct labor cost during August and requisitioned $25,000 in raw materials (all direct material). If the sum of the debits to the manufacturing overhead account total $28,000 for the month, and if the sum of the credits totaled $30,000, then was Finished Goods debited or credited? By how much? 19. A company has provided the following data: Sales 4,000 units Sales price $80 per unit Variable cost $50 per unit Fixed cost $30,000 If the dollar contribution margin per unit is increased by 10 percent, total fixed cost is decreased by 15 percent, and all other factors remain the same, will net operating income increase or decrease? By how much? 20. For the current year, Paxman Company incurred $175,000 in actual manufacturing overhead cost. The manufacturing overhead account showed that overhead was overapplied in the amount of $9,000 for the year. If the predetermined overhead rate was $8.00 per direct labor hour, how many hours were worked during the year?