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 View more View Less
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