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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

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