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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 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

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