wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

A2 Chapter 17: Job Order Costing

Total questions: 33

Worksheet time: 17mins

Name
Class
Date
1.
The Jones Company manufactures student desks for school systems. The company accountant, Alice, is preparing the month-end reports and journal entries. During the month of June, Jones Company sold desks costing $105,000. The journal entry to record this transaction is:
a)
debit Sales, $105,000; credit Cost of Goods Sold, $105,000.
b)
debit Cost of Goods Sold, $105,000; credit Sales, $105,000.
c)
debit Cost of Goods Sold, $105,000; credit Finished Goods, $105,000.
d)
debit Finished Goods, $105,000; credit Cost of Goods Sold, $105,000.
2.

The Best Shoe Company manufactures running shoes. Best's materials ledger card for rubber is shown above. What is the ending amount of rubber inventory on the materials ledger card?

a)

$,1153.75

b)

$1,428.75

c)

$1,553.75

d)

$1,996.25

3.
The Hambrick Company manufactures terry cloth towels. The company accountant is preparing the month-end reports and journal entries. The accountant sees that during the month of June, Hambrick Company transferred $112,000 of completed towels to the appropriate account. The journal entry to record this transaction is:
a)
debit Finished Goods, $112,000; credit Work in Process, $112,000.
b)
debit Work in Process, $112,000; credit Finished Goods, $112,000.
c)
debit Cost of Goods Sold, $112,000; credit Finished Goods, $112,000.
d)
debit Finished Goods, $112,000; credit Cost of Goods Sold, $112,000.
4.

The Andersen Polymer Company manufactures non-organic resins. During the manufacturing process, a job cost sheet is prepared. Job No. 578 for an order of 800 pounds of resin was placed on June 15.

Using the information from the chart, what are the total direct labor charges for this job?

a)

$2,500

b)

$6,000

c)

$13,300

d)

$18,550

5.

The Golf House manufactures custom golf shoes. Janet, the company accountant, is preparing the month-end financial statement and reports for the company. Based on the information in the chart, the journal entry to dispose of overapplied factory overhead is:

a)

debit Work in Process, $10,000; credit Factory Overhead, $10,000.

b)

debit Factory Overhead, $10,000; credit Work in Process, $10,000.

c)

debit Income Summary, $10,000; credit Factory Overhead, $10,000.

d)

debit Factory Overhead, $10,000; credit Income Summary, $10,000.

6.

The Blue Corporation manufactures denim blue jeans. Sarah, the company accountant, is preparing the month-end financial statement and reports for the company. Based on the information in the chart, the journal entry to record the applied factory overhead is:

a)

debit Work in Process, $378,750; credit Factory Overhead, $378,750.

b)

debit Factory Overhead, $378,750; credit Work in Process, $378,750.

c)

debit Work in Process, $385,000; credit Factory Overhead, $385,000.

d)

debit Factory Overhead, $385,000; credit Work in Process, $385,000.

7.
The EarthReady Corporation manufactures environmentally safe light bulbs. Sam, the accountant, is preparing the month-end journal entries. He received Materials Requisition No. 228, for the issue of 200 pounds of silica at $10.50 per pound. The correct journal entry to record this transaction is:
a)
debit Materials, $2,100; credit Work in Process, $2,100.
b)
debit Work in Process, $2,100; credit Materials, $2,100.
c)
debit Factory Overhead, $2,100; credit Materials, $2,100.
d)
debit Materials, $2,100; credit Cost of Goods Sold, $2,100.
8.
The Magnum Steel Corporation manufactures sheet metal for the automotive industry. The company accountant has received requisitions from the plant managers. Indirect material requisitions totaled $2,123 and direct material requisitions totaled $3,779. The correct entry to record this transaction is:
a)
debit Work in Process, $5,902; credit Materials, $5,902.
b)
debit Factory Overhead, $5,902; credit Materials, $5,902.
c)
debit Work in Process, $2,123, Factory Overhead, $3,779; credit Materials, $5,902.
d)
debit Work in Process, $3,779, Factory Overhead, $2,123; credit Materials, $5,902.
9.

The Magnum Steel Corporation manufactures sheet metal for the automotive industry. The company accountant has received several invoices. Three of the invoices totaling $10,897 are for items that will be used in the manufacturing process. Two additional invoices totaling $25,123 are for items that will be used to repair several pieces of manufacturing machinery. Based on this information, what amount will be debited to the Materials account?

a)

$10,897

b)

$25,123

c)

$35,300

d)

$36,020

10.

The Eckland Company makes chairs out of pine wood that is cut from local forests. The materials ledger card for pine wood is shown on the chart. Based on this information, what is the ending amount of pine wood inventory on the materials ledger card?

a)

$3,787.50

b)

$4,000.00

c)

$4,200.00

d)

$4,612.50

11.

The Best Shoe Company manufactures running shoes. During the manufacturing process, a job cost sheet is prepared. The cost sheet for 300 units of running shoes shows $3,000.00 for direct materials and $4,200.00 for direct labor. Factory overhead is estimated at 70% of direct labor. What is the unit cost of the job?

a)

$31.00

b)

$32.70

c)

$33.80

d)

$48.50

12.
The Solar Company manufactures solar panels. The finished goods ledger card for mounting brackets shows that 22 were completed at a cost of $15.25 per unit on February 23; and 15 were completed at a cost of $16.75 per unit on February 28. If 10 units at a cost of $15.25 were shipped, and there was no beginning inventory, what is the total number of units of this item in inventory?
a)
17
b)
27
c)
37
d)
47
13.

The King Clothier Company makes silk shirts for men and women. The plant manager estimates that the company will manufacture 15,000 units next year. If the applied factory overhead rate for King Clothier is 80%; and if total factory overhead costs are estimated to be $400,000, what are the estimated direct labor costs?

a)

$320,000

b)

$500,000

c)

$620,000

d)

$680,000

14.

The Wishy-Washy Company makes industrial washing machines. During the manufacturing process, a job cost sheet is prepared. Using the information from the chart, what is the applied factory overhead for job No. 544?

a)

$400

b)

$600

c)

$4,000

d)

$6,000

15.

The Magnum Steel Corporation manufactures sheet metal for the automotive industry. Each month, the accountant for the company calculates and posts factory overhead. Using the chart that contains information for the month of July, what is the journal entry to record the factory overhead?

a)

debit Factory Overhead, $66,944; credit individual expense accounts, $66,944

b)

debit Factory Overhead, $91,944; credit individual expense accounts, $91,944

c)

debit Factory Overhead, $100,944; credit individual expense accounts, $100,944

d)

debit Factory Overhead, $125,944; credit individual expense accounts, $125,944

16.
The EarthReady Corporation manufactures environmentally safe light bulb.s. EarthReady's finished goods ledger card for mounting brackets shows that 78 were completed at a cost of $18.75 per unit on March 7 and 85 were completed at a cost of $19.25 per unit on March 10. If 30 units at a cost of $19.25 were shipped, and if there was no beginning inventory, what is the total number of units of this item in inventory?
a)
48
b)
115
c)
133
d)
193
17.

The Best Shoe Company manufactures running shoes. During the manufacturing process, a job cost sheet is prepared. The cost sheet for 300 units of running shoes shows $3,000 for direct materials and $4,200 for direct labor. Factory overhead is estimated at 70% of direct labor. What is the total cost of the job?

a)

$7,200

b)

$9,300

c)

$10,140

d)

$14,540

18.
The Jones Company manufactures student desks for school systems. The company accountant, Alice, is preparing the month-end reports and journal entries. During the month of June, Jones Company transferred $275,300 of completed desks to the appropriate account. The journal entry to record this transaction is:
a)
debit Finished Goods, $275,300; credit Work in Process, $275,300.
b)
debit Work in Process, $275,300; credit Finished Goods, $275,300.
c)
debit Cost of Goods Sold, $275,300; credit Finished Goods, $275,300.
d)
debit Finished Goods, $275,300; credit Cost of Goods Sold, $275,300.
19.

The Handy Helper Company manufactures pot holders. Handy Helper's finished goods ledger card for pot holders show that 22 were completed at a cost of $15.25 per unit on February 23; and 15 were completed at a cost of $16.75 per unit on February 28. If 10 units at a cost of $15.25 were shipped, and if there was no beginning inventory, what is the total finished goods inventory of this item?

a)

$428.75

b)

$434.25

c)

$524.50

d)

$586.75

20.
The Anderson Company manufactures skateboards. The company accountant, Alice, is preparing the month-end reports and journal entries. During the month of June, Anderson Company sold skateboards costing $79,500. The journal entry to record this transaction is:
a)
debit Sales, $79,500; credit Cost of Goods Sold, $79,500.
b)
debit Cost of Goods Sold, $79,500; credit Sales, $79,500.
c)
debit Cost of Goods Sold, $79,500; credit Finished Goods, $79,500.
d)
debit Finished Goods, $79,500; credit Cost of Goods Sold, $79,500.
21.

The Healthful Living Company manufactures vitamins for individuals. During the manufacturing process, a job cost sheet is prepared. Using the information in the chart, what is the applied factory overhead for Job No. 544?

a)

$560

b)

$650

c)

$5,600

d)

$8,750

22.

The King Clothier Company makes silk shirts for men and women. During the manufacturing process, a job cost sheet is prepared. The cost sheet for 300 units of silk shirts shows $2,800 for direct materials, $2,900 for direct labor, and $2,100 for factory overhead. Based on this information, what is the cost per unit?

a)

$19

b)

$23

c)

$26

d)

$32

23.

The Holland Table Corporation manufactures dining tables and chairs. During the manufacturing process, a job cost sheet is prepared. The cost sheet for 150 units of dining tables shows $10,500 for direct materials, $5,500 for direct labor, and $8,000 for factory overhead. Based on this information, what is the cost per unit?

a)

$70

b)

$90

c)

$120

d)

$160

24.
The Sweet Shop manufactures cookies for sale by the Girl Scouts. The accountant is preparing the month-end financial statement and reports for the company. The Sweet Shop records applied (estimated) overhead to job cost sheets as a percentage of direct labor costs. The rate that the Sweet Shop uses is 85% and the direct labor costs from the job cost sheets for the month of March totaled $150,000. Actual factory overhead was $126,000. The journal entry to record the applied factory overhead is:
a)
debit Work in Process; $126,000; credit Factory Overhead, $126,000.
b)
debit Factory Overhead, $126,000; credit Work in Process, $126,000.
c)
debit Work in Process, $127,500; credit Factory Overhead, $127,500.
d)
debit Factory Overhead, $127,500; credit Work in Process, $127,500.
25.

SafeColor manufactures ammonia-free hair color for hair salons. SafeColor uses a factory overhead applied rate based upon direct labor costs to charge overhead costs to its manufactured products. The plant manager estimates that SafeColor will manufacture 40,000 units next year. For this amount of production, the accountant estimates total factory overhead costs to be $350,000 and estimated direct labor costs to be $450,000. What is the factory overhead rate applied for the next year?

a)

75%

b)

78%

c)

88%

d)

129%

26.
The Blue Corporation manufactures blue jeans. The company accountant is preparing the month-end journal entries. When recording the factory overhead amounts, the accountant will debit Factory Overhead and credit:
a)
Direct Expense.
b)
Work in Process.
c)
Indirect Expense.
d)
Cost of Goods Sold.
27.
The Coffee Cafe records applied (estimated) overhead to job cost sheets as a percentage of direct labor costs. The rate that the Coffee Cafe uses is 70% and the direct labor costs from the job cost sheets for the month of June totaled $205,000. Actual factory overhead was $145,000. The journal entry to record the applied factory overhead is:
a)
debit Work in Process, $145,000; credit Factory Overhead, $145,000.
b)
debit Factory Overhead, $145,000; credit Work in Process, $145,000.
c)
debit Work in Process, $143,500; credit Factory Overhead, $143,500.
d)
debit Factory Overhead, $143,500; credit Work in Process, $143,500.
28.
The EarthReady Corporation manufactures environmentally safe light bulb.s. Samuel, the accountant, has just received requisitions from the plant managers. Indirect material requisitions totaled $567; and direct material requisitions totaled $3,251. The correct entry to record this transaction is:
a)
debit Work in Process, $3,818; credit Materials, $3,818.
b)
debit Factory Overhead, $3,818; credit Materials, $3,818.
c)
debit Work in Process, $567, Factory Overhead, $3,251; credit Materials, $3,818.
d)
debit Work in Process, $3,251, Factory Overhead, $567; credit Materials, $3,818.
29.

The Eckland Company makes chairs out of pine wood that is cut from local forests. Eckland uses a factory overhead applied rate based upon direct labor costs to charge overhead costs to its manufactured products. The plant manager estimates that Eckland will manufacture 300 units next year. For this amount of production, the accountant estimates total factory overhead costs to be $5,100 and estimated direct labor costs to be $6,000. What is the factory overhead rate applied for the next year?

a)

70%

b)

75%

c)

85%

d)

118%

30.

The Eckland Company makes chairs out of pine wood that is cut from local forests. The plant manager estimates that Eckland will manufacture 30,000 chairs next year. If the applied Factory Overhead rate for The Eckland Company equals 75% of direct labor; and if total factory overhead costs are estimated to be $400,000, what are the estimated direct labor costs?

a)

$300,000

b)

$333,333

c)

$420,000

d)

$533,333

31.
The Sweet Shop manufactures cookies for sale by the Girl Scouts. The company accountant is preparing the month-end financial statements and reports. The Sweet Shop records applied (estimated) overhead to job cost sheets as a percentage of direct labor costs. The rate that the Sweet Shop uses is 85% and the direct labor costs from the job cost sheets for the month of March totaled $150,000. Actual factory overhead was $126,000. The journal entry to dispose of overapplied factory overhead is:
a)
debit Work in Process, $1,500; credit Factory Overhead, $1,500.
b)
debit Factory Overhead, $1,500; credit Work in Process, $1,500.
c)
debit Income Summary, $1,500; credit Factory Overhead, $1,500.
d)
debit Factory Overhead, $1,500; credit Income Summary, $1,500.
32.

SafeColor manufactures ammonia-free hair color for hair salons. SafeColor's finished goods ledger card for #3 Blonde Color shows that

85 were completed at a cost of $7.25 per unit on September 23

65 were completed at a cost of $8.75 per unit on September 28.

If 30 units at a cost of $7.25 were shipped, and there was no beginning inventory, what is the total finished goods inventory of this item?

a)

$807.10

b)

$967.50

c)

$1,050.00

d)

$1,402.50

33.
The Solar Company manufactures solar panels for businesses. The company accountant is preparing month-end reports and journal entries. During the month of September, Solar Company transferred $305,500 of completed solar panels to the appropriate account. The journal entry to record this transaction is:
a)
debit Finished Goods, $305,500; credit Work in Process, $305,500.
b)
debit Work in Process, $305,500; credit Finished Goods, $305,500.
c)
debit Cost of Goods Sold, $305,500; credit Finished Goods, $305,500.
d)
debit Finished Goods, $305,500; credit Cost of Goods Sold, $305,500.

Similar Resources on Wayground

Tugas pertemuan 11 Makanan Khas Daerah (promosi&konsinyasi)

30 questions

Tugas pertemuan 11 Makanan Khas Daerah (promosi&konsinyasi)

quiz

Worksheet

•

12th Grade

Unit 2 Finance

30 questions

Unit 2 Finance

quiz

Worksheet

•

5th - 12th Grade

Chapter 18 Production of Goods and Services

29 questions

Chapter 18 Production of Goods and Services

quiz

Worksheet

•

10th Grade

pkwu pengolahan

32 questions

pkwu pengolahan

quiz

Worksheet

•

12th Grade

Makanan Internasional XI/2

30 questions

Makanan Internasional XI/2

quiz

Worksheet

•

11th Grade

FYJC ( OCM TEST)

28 questions

FYJC ( OCM TEST)

quiz

Worksheet

•

11th Grade

Principles of Management

31 questions

Principles of Management

quiz

Worksheet

•

12th Grade

Game & Simulation Foundations - Semester 1 Exam Practice #2

36 questions

Game & Simulation Foundations - Semester 1 Exam Practice #2

quiz

Worksheet

•

9th - 12th Grade