Home / Questions / Computing the predetermined manufacturing overhead rate is done: A) before the period sta
Computing the predetermined manufacturing overhead rate is done:
A) before the period starts.
B) during the period.
C) at the end of the period.
D) at any time.
22) How do you calculate the predetermined manufacturing overhead rate used to allocate
manufacturing overhead costs?
A) By dividing the total estimated manufacturing overhead costs by the total estimated amount of the allocation base
B) By dividing the total estimated amount of the allocation base by the total estimated manufacturing overhead costs
C) By dividing the total estimated manufacturing overhead costs by the total actual amount of the allocation base
D) By multiplying the total estimated manufacturing overhead costs by the total estimated amount of the allocation base
23) A typical manufacturing overhead cost would be:
A) direct materials.
B) sales revenue.
C) depreciation on factory equipment.
D) direct labor.
24) Manufacturing overhead would include:
A) indirect labor costs only.
B) all manufacturing costs except direct materials and direct labor.
C) all manufacturing costs.
D) indirect materials only.
25) Here are selected data for Fritzel Company:
|
Cost of goods manufactured |
$390,000 |
|
Work in process inventory, beginning |
112,000 |
|
Work in process inventory, ending |
92,000 |
|
Direct materials used |
75,000 |
Manufacturing overhead is allocated at 60% of direct labor cost.
What was the amount of direct labor costs?
A) $95,000
B) $184,375
C) $209,375
D) $295,000
26) Sonnheim Manufacturing uses job costing. In May, material requisitions were $51,000 ($45,000 of these were direct materials), and raw material purchases were $58,900. The end of month balance in raw materials inventory was $28,700. What was the beginning raw materials inventory balance?
A) $42,600
B) $37,100
C) $75,200
D) $20,800
27) Smith Paints allocates overhead based on machine hours. Selected data for the most recent year follow.
|
Estimated manufacturing overhead cost |
$250,000 |
|
Actual manufacturing overhead cost |
$230,000 |
|
Estimated machine hours |
20,000 |
|
Actual machine hours |
21,000 |
The estimates were made as of the beginning of the year, while the actual results were for the entire year.
The predetermined manufacturing overhead rate per machine hour is closest to:
A) $11.90.
B) $10.95.
C) $12.50.
D) $11.50.
28) Smith Paints allocates overhead based on machine hours. Selected data for the most recent year follow.
|
Estimated manufacturing overhead cost |
$250,000 |
|
Actual manufacturing overhead cost |
$230,000 |
|
Estimated machine hours |
20,000 |
|
Actual machine hours |
21,000 |
The estimates were made as of the beginning of the year, while the actual results were for the entire year.
The amount of manufacturing overhead allocated for the year based on machine hours would have been:
A) $230,000.
B) $240,000.
C) $250,000.
D) $262,500.
29) Here are selected data for Anthony Corporation:
|
Cost of materials purchases on account |
$76,000 |
|
Cost of materials requisitioned (includes $3,000 of indirect) |
42,000 |
|
Direct labor costs incurred |
82,000 |
|
Manufacturing overhead costs incurred, including indirect materials |
97,500 |
|
Cost of goods manufactured |
230,000 |
|
Cost of goods sold |
151,000 |
|
Beginning raw materials inventory |
14,500 |
|
Beginning work in process inventory |
29,700 |
|
Beginning finished goods inventory |
32,800 |
|
Predetermined manufacturing overhead rate (as % of direct labor cost) |
120% |
What is the balance in work in process inventory at the end of the year?
A) $18,200
B) $23,800
C) $19,100
D) $55,200
30) Crockett Company had a beginning work in process inventory balance of $33,200. During the year, $57,000 of direct materials was placed into production. Direct labor was $61,500, and indirect labor was $19,500. Manufacturing overhead is allocated at 130% of direct labor costs. Actual manufacturing overhead was $86,500, and jobs costing $225,000 were completed during the year. What is the ending work in process inventory balance?
A) $171,800
B) $13,200
C) $79,950
D) $6,650
Dec 07 2019 Read more Less More
A customer has written a letter complaining about having her reservation cancelled at your hotel. Your hotel is named the Winter Sands Hotel, and she had a reservation fo...
May 31 2020The structure shown to the right consists of a moment resisting frame with a diagonal pin-ended brace. Member properties are EA = 1000 kips, El = 172,000 kip-in2. The mem...
Jul 06 2020State the three basic operations used to develop useful sets of data in a relational database? (a)Sort, select and report (b)Combine, relate and sort (c)Select, proj...
Dec 29 2017DELL INC.was founded in 1984 by Michael Dell at age 19 while he was a student living in adormitory at the University of Texas. As a college freshman, he bought personal c...
Aug 22 2020Why did Venezuela experience a shortage of basic food in 2006? A because the price of basic food was legally prevented from rising to its equilibrium level B because the ...
Jun 05 2020Preparing a worksheet, closing entries, and a post-closing trial balance San Antonio Veterinary Hospital completed the following worksheet as of December 31, 2016.Require...
Apr 21 2020Explain why historical charge off and past due data may not represent the bank’s current portfolio credit risk.
Mar 31 2020ABC Ltd. manufactures Car Air Conditioners (ACs), Window ACs and Split ACs constituting 60%, 25% and 15% of total market value. The stand-alone Standard Deviation and Co...
Apr 02 2020which of the following is an agency cost of equity?a. the value loss due to underinvestmentb. the loss due to bankruptcy costc. the value loss due to waste of free cash flow
Aug 09 2020Embracing Change Through Operational LeadershipFrom a Lebanese family-owned small business to a leading multi-line conglomerate in the Middle East and North Africa (MENA)...
Jul 10 2020
Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.
