Day 14 (and 15)
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Other
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University
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Easy
Hilary Hughes
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4 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What was the cost of jobs completed and transferred to finished goods? Assume no beginning or ending WIP
Direct materials issued to production $180,000
Indirect materials issued to production 16,000
Manufacturing overhead incurred 250,000
Manufacturing overhead applied 226,000
Direct manufacturing labor costs 214,000
$604,000
$644,000
$620,000
$660,000
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the under(over)applied amount for MOH? Assume no beginning or ending WIP
Direct materials issued to production $180,000
Indirect materials issued to production 16,000
Manufacturing overhead incurred 250,000
Manufacturing overhead applied 226,000
Direct manufacturing labor costs 214,000
$24,000 under-applied
$24,000 over-applied
$394,000 under-applied
cannot be determined
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A company calculated an indirect-cost rate of $12.50 per labor hour for fringe benefits for use in their normal costing system. At the end of the year, the actual cost of fringe benefits was $980,000. The total of labor hours worked for the year was the same amount as budgeted (70,000 hours). If a job required the use of 15 labor hours and the company used the adjusted allocation rate approach, by what amount would the cost of the job change?
$560
$281.25
$22.50
$20.50
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Manufacturing overhead control account
represents actual overhead costs incurred.
has a normal debit balance.
is a control account with a subsidiary ledger that contains the details of the components.
all of the above.
none of the above.
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