Job 1574 requires $10,000 of direct materials, $4,000 of direct labor, 400 direct labor h
Job 1574 requires $10,000 of direct materials, $4,000 of direct labor, 400 direct labor hours, and 200 machine hours. It also requires 7 hours of inspection at $35 per hour. Manufacturing overhead is computed at $20 per direct labor hour used and $40 per machine hour used.
The total amount charged to inspection:
A) is $35.
B) is $35 x budgeted hours.
C) is $245 + the overhead dollars applied.
D) does not figure into the total cost of the job.
42) Job 2908 requires $12,000 of direct materials, $5,500 of direct labor, 500 direct labor hours, and 250 machine hours. It also requires 9 hours of inspection at $40 per hour. Manufacturing overhead is computed at $25 per direct labor hour used and $45 per machine hour used.
The total dollars of conversion costs are:
A) $12,500.
B) $23,750.
C) $41,250.
D) $29,250.
43) Chilson Company manufactures custom engines for use in the lawn and garden equipment industry. The company allocates manufacturing overhead based on machine hours. Selected data for costs incurred for Job 612 are as follows:
Direct materials used
|
$3,500
|
Direct labor hours worked
|
300
|
Machine hours used
|
400
|
Direct labor rate per hour
|
$16
|
Predetermined overhead rate based on machine hours
|
$18
|
What amount of manufacturing overhead would be allocated to Job 612?
A) $7,200
B) $4,800
C) $5,400
D) $3,500
44) Clyde Company gathered the following information for the year ended December 31:
Direct labor cost incurred for the year
|
$180,000
|
Estimated manufacturing overhead costs
|
$240,000
|
Estimated direct labor cost
|
$200,000
|
Work in process inventory, Dec. 31
|
$55,000
|
Finished goods inventory, Dec. 31
|
$67,500
|
Cost of goods sold
|
$141,000
|
Estimated direct labor hours
|
300,000
|
What would the predetermined manufacturing overhead rate for the year be using direct labor cost as the allocation base?
A) 90% of direct labor cost
B) 111% of direct labor cost
C) 120% of direct labor cost
D) 80% of direct labor cost
45) Clyde Company gathered the following information for the year ended December 31:
Direct labor cost incurred for the year
|
$180,000
|
Estimated manufacturing overhead costs
|
$240,000
|
Estimated direct labor cost
|
$200,000
|
Work in process inventory, Dec. 31
|
$55,000
|
Finished goods inventory, Dec. 31
|
$67,500
|
Cost of goods sold
|
$141,000
|
Estimated direct labor hours
|
300,000
|
Clyde Company uses a job costing system.
What would the predetermined manufacturing overhead rate for the year be using direct labor hours as theallocation base?
A) $1.11 per direct labor hour
B) $.90 per direct labor hour
C) $1.20 per direct labor hour
D) $.80 per direct labor hour
46) Zarvo Moldings allocates manufacturing overhead to jobs based on machine hours. The company has the following estimated costs for the upcoming year:
Direct materials used
|
$25,000
|
Direct labor costs
|
$62,000
|
Salary of factory supervisor
|
$41,000
|
Advertising expense
|
$33,000
|
Heating and lighting costs for factory
|
$21,000
|
Depreciation on factory equipment
|
$9,000
|
Sales commissions
|
$8,000
|
The company estimates that 1,800 direct labor hours will be worked in the upcoming year, while 2,000 machine hours will be used during the year. The predetermined manufacturing overhead rate per machine hour is closest to:
A) $56.
B) $36.
C) $100.
D) $15.
47) Zarvo Moldings allocates manufacturing overhead to jobs based on machine hours. The company has the following estimated costs for the upcoming year:
Direct materials used
|
$25,000
|
Direct labor costs
|
$62,000
|
Salary of factory supervisor
|
$41,000
|
Advertising expense
|
$33,000
|
Heating and lighting costs for factory
|
$21,000
|
Depreciation on factory equipment
|
$9,000
|
Sales commissions
|
$8,000
|
The company estimates that 1,800 direct labor hours will be worked in the upcoming year, while 2,000 machine hours will be used during the year. The predetermined manufacturing overhead rate per direct labor hour is closest to:
A) $62.
B) $39.
C) $35.
D) $111.
48) To follow is selected financial data from Harmon Manufacturing for the most recent year.
Ending raw materials inventory
|
$19,000
|
Ending work in process inventory
|
$42,000
|
Ending finished goods inventory
|
$54,100
|
Amount of underallocated manufacturing overhead
|
$3,100
|
Cost of goods sold for year
|
$81,000
|
Cost of raw materials purchased during year
|
$45,300
|
Cost of direct materials requisitioned during year
|
$41,700
|
Cost of indirect materials requisitioned during year
|
$7,100
|
Cost of goods completed during year
|
$110,000
|
Manufacturing overhead allocated
|
$60,000
|
Manufacturing overhead % of direct labor cost
|
125%
|
What is the beginning raw materials inventory?
A) $15,400
B) $22,500
C) $3,500
D) $67,800
49) To follow is selected financial data from Harmon Manufacturing for the most recent year.
Ending raw materials inventory
|
$19,000
|
Ending work in process inventory
|
$42,000
|
Ending finished goods inventory
|
$54,100
|
Amount of underallocated manufacturing overhead
|
$3,100
|
Cost of goods sold for year
|
$81,000
|
Cost of raw materials purchased during year
|
$45,300
|
Cost of direct materials requisitioned during year
|
$41,700
|
Cost of indirect materials requisitioned during year
|
$7,100
|
Cost of goods completed during year
|
$110,000
|
Manufacturing overhead allocated
|
$60,000
|
Manufacturing overhead % of direct labor cost
|
125%
|
What is the beginning work in process inventory?
A) $17,000
B) $50,300
C) $53,400
D) $2,300
50) To follow is selected financial data from Harmon Manufacturing for the most recent year.
Ending raw materials inventory
|
$19,000
|
Ending work in process inventory
|
$42,000
|
Ending finished goods inventory
|
$54,100
|
Amount of underallocated manufacturing overhead
|
$3,100
|
Cost of goods sold for year
|
$81,000
|
Cost of raw materials purchased during year
|
$45,300
|
Cost of direct materials requisitioned during year
|
$41,700
|
Cost of indirect materials requisitioned during year
|
$7,100
|
Cost of goods completed during year
|
$110,000
|
Manufacturing overhead allocated
|
$60,000
|
Manufacturing overhead % of direct labor cost
|
125%
|
What is the beginning finished goods inventory?
A) $135,100
B) $75,100
C) $25,100
D) $6,100
Tripti
07-Dec-2019