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Question 2 1 pts Shoney's produces Szechuan sauce and had the following beginning and ending inventory balances for the year ended December 31, 2019: January 1, 2019 December 31, 2019 Raw Materials $22,000 $15,000 Work in Process $35,000 $24,000 Finished Goods $7,000 $46,000 In addition, direct labor costs of $83,000 were incurred, overhead equaled $27,000, materials purchased were $33,000 and selling and administrative costs were $64,000. Shoney's sold 15,000 units of product during the year at a sales price of $8.50 per unit. Refer to the figure above. What was the amount of cost of goods sold for the year? Question 3 1 pts Refer to the figure in question 2. What were the total prime costs for the year? $60,000 $116,000 $110,000 $123,000 Question 12 1 pts A variable cost in total: Increases as output increases and decreases as output decreases O Increases as output and/or decreases Remains constant no matter the level of output Increases as output decreases and decreases as output increases Question 13 1 pts Direct materials are a(n): O Product cost O Opportunity cost O Administrative cost O Fixed cost Question 14 1 pts The unit cost: o Is the total product cost divided by the number of units produced O Includes period costs Is the total prime costs divided by the number of units produced Is the total conversion cost divided by the number of units produced

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