Question :
108.Benson Inc.’s accounting records reflect the following inventories:
Dec. 31, 2012Dec. : 1311590
108.Benson Inc.’s accounting records reflect the following inventories:
Dec. 31, 2012Dec. 31, 2013
Raw materials inventory$ 80,000$ 64,000
Work in process inventory104,000116,000
Finished goods inventory100,00092,000
During 2013, Benson purchased $1,160,000 of raw materials, incurred direct labor costs of $200,000, and incurred manufacturing overhead totaling $128,000.
How much raw materials were transferred to production during 2013 for Benson?
a.$1,392,000
b.$1,176,000
c.$1,160,000
d.$1,144,000
109.Benson Inc.’s accounting records reflect the following inventories:
Dec. 31, 2012Dec. 31, 2013
Raw materials inventory$ 80,000$ 64,000
Work in process inventory104,000116,000
Finished goods inventory100,00092,000
During 2013, Benson purchased $1,060,000 of raw materials, incurred direct labor costs of $200,000, and incurred manufacturing overhead totaling $128,000.
How much is total manufacturing costs incurred during 2013 for Benson?
a.$1,392,000
b.$1,404,000
c.$1,388,000
d.$1,400,000
110.Benson Inc.’s accounting records reflect the following inventories:
Dec. 31, 2012Dec. 31, 2013
Raw materials inventory$ 80,000$ 64,000
Work in process inventory104,000116,000
Finished goods inventory100,00092,000
During 2013, Benson purchased $1,160,000 of raw materials, incurred direct labor costs of $200,000, and incurred manufacturing overhead totaling $128,000.
Assume Benson’s cost of goods manufactured for 2013 amounted to $1,360,000. How much would it report as cost of goods sold for the year?
a.$1,368,000
b.$1,400,000
c.$1,460,000
d.$1,352,000
111.Walker Company reported the following year-end information:
Beginning work in process inventory $ 46,000
Beginning raw materials inventory24,000
Ending work in process inventory50,000
Ending raw materials inventory20,000
Raw materials purchased830,000
Direct labor240,000
Manufacturing overhead100,000
How much is Walker’s cost of goods manufactured for the year?
a.$834,000
b.$1,174,000
c.$1,170,000
d.$1,178,000
112.Ogleby Inc.’s accounting records reflect the following inventories:
Dec. 31, 2012Dec. 31, 2013
Raw materials inventory$120,000$ 96,000
Work in process inventory156,000174,000
Finished goods inventory150,000138,000
During 2013, Ogleby purchased $840,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000.
How much is total manufacturing costs incurred during 2013 for Ogleby?
a.$1,188,000
b.$1,206,000
c.$1,182,000
d.$1,200,000
113.Ogleby Inc.’s accounting records reflect the following inventories:
Dec. 31, 2012Dec. 31, 2013
Raw materials inventory$120,000$ 96,000
Work in process inventory156,000174,000
Finished goods inventory150,000138,000
During 2013, Ogleby purchased $840,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000.
How much would Ogleby Manufacturing report as cost of goods manufactured for 2013?
a.$1,164,000
b.$1,224,000
c.$1,218,000
d.$1,188,000
114.Wasson Company reported the following year-end information:
Beginning work in process inventory $ 35,000
Beginning raw materials inventory18,000
Ending work in process inventory38,000
Ending raw materials inventory15,000
Raw materials purchased560,000
Direct labor180,000
Manufacturing overhead120,000
How much is Wasson’s total cost of work in process for the year?
a.$608,000
b.$863,000
c.$860,000
d.$898,000
115.Edmiston Company reported the following year-end information: beginning work in process inventory, $80,000; cost of goods manufactured, $780,000; beginning finished goods inventory, $50,000; ending work in process inventory, $70,000; and ending finished goods inventory, $40,000. How much is Edmiston’s cost of goods sold for the year?
a.$780,000
b.$790,000
c.$770,000
d.$800,000
116.Using the following information, compute the direct materials used.
Raw materials inventory, January 1$ 20,000
Raw materials inventory, December 3140,000
Work in process, January 118,000
Work in process, December 3112,000
Finished goods, January 140,000
Finished goods, December 3132,000
Raw materials purchases1,400,000
Direct labor560,000
Factory utilities150,000
Indirect labor50,000
Factory depreciation400,000
Operating expenses420,000
a.$1,460,000.
b.$1,420,000.
c.$1,400,000.
d.$1,380,000.
117.Assuming that the direct materials used is $1,400,000, compute the total manufacturing costs using the following information.
Raw materials inventory, January 1$ 20,000
Raw materials inventory, December 3140,000
Work in process, January 118,000
Work in process, December 3112,000
Finished goods, January 140,000
Finished goods, December 3132,000
Raw materials purchases1,400,000
Direct labor560,000
Factory utilities150,000
Indirect labor50,000
Factory depreciation400,000
Operating expenses420,000
a.$2,560,000.
b.$2,554,000.
c.$2,360,000.
d.$2,980,000.
