acct exam 1 226

The following costs were incurred in April: Direct materials $29,000

Direct labor $24,000 Manufacturing Overhead $14,000 Selling expenses $18,000 Administrative expenses $18,000

Prime costs during the month totaled:

• $53,000

• $67,000

• $38,000

• $108,000

The following costs were incurred in April: Direct materials $29,000

Direct labor $24,000 Manufacturing Overhead $14,000 Selling expenses $18,000 Administrative expenses $18,000

Period costs during the month totaled:

• $53,000

• $67,000

• $38,000

• $36,000

The following costs were incurred in April: Direct materials $29,000

Direct labor $24,000 Manufacturing Overhead $14,000 Selling expenses $18,000 Administrative expenses $18,000

Product costs during the month totaled:

• $53,000

• $67,000

• $38,000

• $36,000

The following costs were incurred in April: Direct materials $29,000

Direct labor $24,000 Manufacturing Overhead $14,000 Selling expenses $18,000 Administrative expenses $18,000

Conversion costs during the month totaled:

• $53,000

• $67,000

• $38,000

• $36,000

The following costs were incurred in April: Direct materials $29,000

Direct labor $24,000 Manufacturing Overhead $14,000 Selling expenses $18,000 Administrative expenses $18,000

Direct costs during the month totaled:

• $53,000

• $67,000

• $38,000

• $36,000

The following costs were incurred in April: Direct materials $29,000

Direct labor $24,000 Manufacturing Overhead $14,000 Selling expenses $18,000 Administrative expenses $18,000

Indirect costs during the month totaled:

• $53,000

• $67,000

• $38,000

• $14,000

At the beginning of May, Cocky Corporation had $3,000 of raw materials on hand. During the month, the Corporation purchased an additional $15,000 of raw materials. During May, $5,000 of raw materials were requisitioned from the storeroom for use in production.

The credits entered in the Raw Materials account during the month of May total:

• $13,000

• $15,000

• $5,000

• $3,000

USC Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 10,000 machine-hours. The estimated variable manufacturing overhead was $6.82 per machine-hour and the estimated total fixed manufacturing overhead

was $230,200. Actual manufacturing overhead during the year was $290,000 and actual machine-hours used were 9,500.

The predetermined overhead rate for the recently completed year was closest to:

• $29.84

• $23.15

• $23.02

• $6.82

USC Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 10,000 machine-hours. The estimated variable manufacturing overhead was $6.82 per machine-hour and the estimated total fixed manufacturing overhead was $230,200. Actual manufacturing overhead during the year was $290,000 and actual machine-hours used were 9,500.

The manufacturing overhead applied for the recently completed year was closest to:

• $298,400

• $290,000

• $283,480

• $230,200

Carolina Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $210,600 and 6,000 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $209,000 and actual direct labor-hours were 5,980.

The predetermined overhead rate for the year was closest to:

• $34.95

• $34.83

• $34.98

• $35.10