1/Production costs of product X have been classified in various ways:

Prime costs: $50.80 per unit

Variable costs: $54.44 per unit
Fixed overheads: $15.20 per direct labour hour
Direct labour: 2.6 hours per unit at $12.00 per hour
Variable overheads: $1.40 per direct labour hour
Direct materials: $19.60 per unit
What is the total production cost per unit of product X? $
Trả lời 174.88

(round to 2 decimal places)

2/ In the Vasquez Company, any over- or under-absorbed overhead is closed out to Cost
of Goods Sold. Last year, the company incurred $27,000 in actual manufacturing
overhead cost, and applied $29,000 of overhead cost to jobs. The beginning and ending
balances of Finished Goods were equal, and the Company's Cost of Goods
Manufactured for the year totaled $71,000. Given this information, Cost of Goods Sold,
after adjustment for any over- or under-absorbed overhead, for the year must have been
in dollars:15000

3/ Determined whether these statements below are TRUE or FALSE:

The assignment of direct labour costs to individual jobs is based on the estimated Answer 1
time spent on each job multiplied by the wage rate.
Chọn...F
ALSE
TRU
E

On the Schedule of Cost of Goods Manufactured, the final Cost of Goods Answer 2
Manufactured figure represents the amount of cost of goods completed during the
current year whether they were started before or during the current year. Chọn...F
ALSE
TRU
E

Hospital would be most likely to use a job-order costing system. Answer 3

Chọn...F
ALSE
TRU
E

In a job-order cost system, salaries for factory supervisor should be charged directly Answer 4
to the Work in Process account.
Chọn...F
 ALS
ETR
UE

In a job-order cost system, indirect labor is assigned to a job by using the labor time

ticket as a source document. False

4/ On April 9, Job XX4 was completed. The job cost sheet showed a total of £4000 in
direct materials and £6000 in direct labour at a rate of £20 per direct labour hour. Factory
overhead is applied at £30 per direct labour hour. The debit to Finished Goods Inventory
to record the completion of Job XX4 is in £.
19000
5/ 4Es Company is a manufacturing firm that uses job-order costing. The company's inventory
balances were as follows at the beginning and end of the year:

Beginning Ending
balance balance

Raw $21,000 $24,000

materials

Work-in- $40,000 $22,000

process

Finished $26,000 $41,000

goods
The company applies overhead to jobs using a predetermined overhead rate based on machine-
hours. At the beginning of the year, the company estimated that it would work 38,000
machine-hours and incur $266,000 in manufacturing overhead cost. The following
transactions were recorded for the year:
● Raw materials were purchased, $300,000.
● Raw materials were requisitioned for use in production, $297,000 $(281,000 direct and
$16,000 indirect).
● The following employee costs were incurred: direct labor, $389,000; indirect labor,
$62,000; and administrative salaries, $176,000.
● Selling costs, $160,000.
● Factory utility costs, $19,000.
● Depreciation for the year was $143,000 of which $137,000 is related to factory operations
and $6,000 is related to selling, general, and administrative activities.
● Manufacturing overhead was applied to jobs. The actual level of activity for the year was
34,000 machine-hours.
● Sales for the year totaled $1,283,000.

Was the overhead underapplied or overapplied? By how much? OVerapplied 4000

6/ UniStar Manufacturing Company produces nameplates and uses a job-order cost
system. The following amounts relate to nameplate production for the month of June:
 - Work in process inventory, June 1: $620
- Cost of materials directly assigned to production during June: $1,800
- Cost of labor directly assigned to production during June: $1,200
- Cost of nameplates completed during June: $4,300
UniStar applies overhead at a predetermined overhead rate of 60% of direct material
cost. At the end of June, only one job was in Work in Process inventory. This job had
been charged with $150 of direct material cost. What is the direct labor cost assigned to
this job? $
Trả lời

7/Inorder to meet the general production requirements in a factory, direct

workers may work overtime which is paid at a premium over the normal hourly
rate.
Which account(s) would be debited to transfer the overtime wages of direct workers
from the wages control account?

a.

Production overheads only

b.

Work-in-progress and bank

c.

Work-in-progress and salaries payable

d.

Work-in-progress only

e.

Work-in-progress and production overhead

8/ Braten Corporation uses direct labor-hours in its predetermined overhead

rate. At the beginning of the year, the estimated direct labor-hours were
14,100 hours. At the end of the year, actual direct labor-hours for the year
were 13,500 hours, the actual manufacturing overhead for the year was
$291,100, and manufacturing overhead for the year was under-applied by
$7,600. The estimated manufacturing overhead at the beginning of the year
used in the predetermined overhead rate must have been:
a.

$298,816

b.

$296,000
c.

$286,100

d.

$283,500

e.

All are incorrect

9/Walter Company uses a job-order costing system to account for product costs. The
following information pertains for a period:
Materials placed into production: £140,000
Indirect labour: 40,000
Direct labour (10,000 hours): 160,000
Depreciation of factory building: 60,000
Other factory overhead: 100,000
Increase in work-in-progress inventory: 30,000
Factory overhead rate is £18 per direct labour hour.
What is the total amount credited to Materials (Stores ledger account) for Walter for the period? £
Trả lời

(without comma add)

What is the total amount debited to Finished Goods Inventory for the period? £
Trả lời

(without comma add)

A journal entry debiting Work in Progress would normally NOT be accompanied by a credit to
Trả lời

Finished GoodsMaterialsManufacturing OverheadWages Payable

10/4Es Corporation uses a job-order costing system and applies overhead to jobs using a
predetermined overhead rate. During the year the company's Finished Goods inventory
account was debited for $384,000 and credited for $325,900. The ending balance in the
Finished Goods inventory account was $72,100. At the end of the year, manufacturing
overhead was underapplied by $5,400.
The balance in the Finished Goods inventory account at the beginning of the year was: $
Trả lời

(without comma add)

If the applied manufacturing overhead was $174,000, the actual manufacturing overhead cost for the
year was:
Trả lời
 11/Fisher Company uses a predetermined overhead rate based on direct labor cost to
apply manufacturing overhead to jobs. The following information about Fisher Company's
Work in Progress inventory account has been provided for the month of May:
May 1 balance: $26,000
Debits during May:
Direct Materials: $40,000
Direct Labor: $50,000
Manufacturing Overhead: $37,500
During the month, Fisher Company's Work in Progress inventory account was credited for
$120,500, which represented the Cost of Goods Manufactured for the month. Only one job
remained in process on May 31; this job had been charged with $9,600 of applied overhead cost.
The amount of direct materials cost in the unfinished job would be: $
Trả lời

12/ 4Es Corporation uses direct labor-hours in its predetermined overhead rate. At the
beginning of the year, the total estimated manufacturing overhead was $221,100. At the
end of the year, actual direct labor-hours for the year were 14,400 hours, manufacturing
overhead for the year was overapplied by $21,500, and the actual manufacturing
overhead was $216,100. The predetermined overhead rate for the year must have been
closest to $
Trả lời
(round to 2 decimal place)
13/ Er Inc. has provided the following data for the month of March. The
balance in the Finished Goods inventory account at the beginning of the
month was $43,000 and at the end of the month was $42,000. The cost of
goods manufactured for the month was $221,000. The actual manufacturing
overhead cost incurred was $45,000 and the manufacturing overhead cost
applied to Work in Process was $49,000. The adjusted cost of goods sold that
would appear on the income statement for March is:
a.

All are incorrect

b.

$226,000

c.

$222,000

d.

$220,000

e.

$221,000
14/

15.

16
 17

18/ Sagon Corporation has provided data concerning the Corporation's

Manufacturing Overhead account for the month of September. Prior to the
closing of the overapplied or underapplied balance to Cost of Goods Sold, the
total of the debits to the Manufacturing Overhead account was $76,000 and
the total of the credits to the account was $66,000. Which of the following
statements is true?

Select one:

A.
Manufacturing overhead for the month was underapplied by $10,000.

B.

Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month
was $76,000.

C.

Actual manufacturing overhead incurred during the month was $66,000.

D.

Manufacturing overhead applied to Work in Process for the month was $76,000.

20d
19 deb 623000