Question 1 - Swifty Corporation sells its product for $70 per unit. During 2016, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $19, direct labor $15, and variable overhead $5. Fixed costs are: $720000 manufacturing overhead, and $90000 selling and administrative expenses. Ending inventory under variable costing is
$1950000.
$510000.
$700000.
$390000.
Question 2 - For Crane Company, sales is $1000000, fixed expenses are $300000, and the contribution margin ratio is 36%. What are the total variable expenses?
$1000000
$192000
$640000
$360000