Which of the following formulas are "Return on Investment ROD" equal to? Net operating income divided by average operating assets. Margin multiplied by turnover. Both of the above None of the above. Micro Products Inc., produces calculators. Each calculator requires three chips that cost $2 each. Micro has developed a production budget for calculators as follows for the first three quarters of the year (in units): First quarter = 60,000 units; Second quarter = 75,000 units, Third quarter = 50,000 units. At the end of each quarter, the inventory of chips must be equal to 20% of the following quarter's production needs What is the dollar amount of chips that will be purchased in the second quarter of the year? In the Fabrication Department, the predetermined overhead rate is based on direct labor cost. At the beginning of the year, the company's management determined that the estimated manufacturing overhead cost for the year in the Fabrication Department would be $600,000 and the direct labor cost would be $400,000. At the end of the year, the following represents actual data for the Fabrication Department manufacturing overhead cost incurred was $630,000 and actual direct labor cost was $430,000. The journal entry to apply overhead cost to jobs will include a debit to _for Manufacturing Overhead: $600,000. Manufacturing Overhead; $645,000. Work in Process; $630,000. Work in Process; $645,000. Manufacturing Overhead; $630,000. In the Fabrication Department, the predetermined overhead rate is based on direct labor cost. At the beginning of the year, the company's management determined that the estimated manufacturing overhead cost for the year in the Fabrication Department would be $600,000 and the direct labor cost would be $400,000. At the end of the year, the following represents actual data for the Fabrication Department manufacturing overhead cost incurred was $630,000 and actual direct labor cost was $430,000. For the year, Manufacturing Overhead in the Fabrication Department was by underapplied: $15,000. overapplied: $45,000 overapplied: $15,000. overapplied: $30,000. underapplied: $30,000