125.Using the information below for Laurels Company; determine the cost of goods manufactured during the current year:
Direct materials used$5,000
Direct Labor7,000
Total Factory overhead5,100
Beginning work in process3,000
Ending work in process4,000
A. $12,000.
B. $16,100.
C. $17,100.
D. $18,100.
E. $13,600.
126.Using the information below for Sundar Company; determine the total manufacturing costs added during the current year:
Direct materials used$19,000
Direct labor used24,500
Factory overhead55,100
Beginning work in process10,700
Ending work in process11,300
A. $98,600.
B. $43,500.
C. $98,000.
D. $42,900.
E. $79,000.
127.Using the information below for Sundar Company; determine the cost of goods manufactured during the current year:
Direct materials used$19,000
Direct labor used24,500
Factory overhead55,100
Beginning work in process10,700
Ending work in process11,300
A. $98,600.
B. $43,500.
C. $98,000.
D. $42,900.
E. $79,000.
128.Total manufacturing costs incurred during the year do not include:
A. Direct materials used.
B. Factory supplies used.
C. Work in Process inventory, beginning balance.
D. Direct labor.
E. Depreciation of factory machinery.
129.Which of the following accounts would appear on a schedule of cost of goods manufactured?
A. Raw materials, factory insurance expired, indirect labor.
B. Raw materials, work in process, finished goods.
C. Direct labor, delivery equipment, and depreciation on factory equipment.
D. Direct materials, indirect labor, sales salaries.
E. Direct labor, factory repairs and maintenance, wages payable.
130.Which of the following represents the correct formula for calculating cost of goods manufactured?
A. Direct materials used + direct labor + factory overhead + beginning work in process + ending work in process.
B. Direct materials used + direct labor + factory overhead + beginning work in process – ending work in process.
C. Direct materials used + direct labor + factory overhead – beginning work in process + ending work in process.
D. Direct materials used + direct labor + factory overhead – beginning work in process – ending work in process.
E. Direct materials used + direct labor – factory overhead + beginning work in process – ending work in process.
131.Current information for the Healey Company follows:
Beginning raw materials inventory$15,200
Raw material purchases60,000
Ending raw materials inventory16,600
Beginning work in process inventory22,400
Ending work in process inventory28,000
Direct labor42,800
Total factory overhead30,000
All raw materials used were traceable to specific units of product. Healey Company’s direct materialsused for the year is: A. $58,600.
B. $60,000.
C. $75,200.
D. $76,600.
E. $61,400.
132.Current information for the Healey Company follows:
Beginning raw materials inventory$15,200
Raw material purchases60,000
Ending raw materials inventory16,600
Beginning work in process inventory22,400
Ending work in process inventory28,000
Direct labor42,800
Total factory overhead30,000
All raw materials used were traceable to specific units of product. Healey Company’s totalmanufacturing costs for the year are: A. $125,800.
B. $128,600.
C. $131,400.
D. $137,000.
E. $139,000.
133.Current information for the Healey Company follows:
Beginning raw materials inventory$15,200
Raw material purchases60,000
Ending raw materials inventory16,600
Beginning work in process inventory22,400
Ending work in process inventory28,000
Direct labor42,800
Total factory overhead30,000
All raw materials used were traceable to specific units of product. Healey Company’s Cost of Goods Manufactured for the year is: A. $125,800.
B. $128,600.
C. $131,400.
D. $137,000.
E. $139,000.
134.Current information for the Stellar Corporation follows:
Beginning work in process inventory17,900
Ending work in process inventory19,300
Direct materials147,000
Direct labor85,000
Total factory overhead63,100
Stellar Corporation’s Cost of Goods Manufactured for the year is:
A. $295,100.
B. $296,500.
C. $313,000.
D. $275,800.
E. $293,700.
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