Question : 73.If manufacturing overhead applied at a rate of $1.50 per : 1169249

 

 

73.If manufacturing overhead is applied at a rate of $1.50 per direct labor dollar and the Department B worker had worked 200 hours at $12 an hour on Job L1147, then the applied overhead would be   

A. $3,600.

 

B. $18.

 

C. $300.

 

D. $2,400.

 

 

 

74.Job Z2 requires $1,200 of material, $100 of which is indirect material. If manufacturing overhead is applied at a rate of 150 % of direct labor cost and labor hours charged to Job Z2 were 200 hours at $12 an hour, the total cost of Job Z2 would be:   

A. $3,600.

 

B. $4,800.

 

C. $7,200.

 

D. $7,100.

 

 

 

75.Finished Goods beginning and ending balances are $18,000 and $14,000. The cost of goods manufactured for the period was $145,000. Actual manufacturing overhead for the period was $32,000 and applied overhead was $35,000. The adjusted cost of goods sold was:   

A. $152,000.

 

B. $149,000.

 

C. $146,000.

 

D. $144,000.

 

 

 

76.Martinez Manufacturing applies overhead based on direct labor hours. The company estimates that their overhead for the year will be $180,000, and that they will use 72,000 direct labor hours. Martinez Manufacturing actually used 75,000 direct labor hours. The journal entry to record manufacturing overhead would include a:   

A. Debit to Work in Process Inventory for $187,500.

 

B. Credit to Manufacturing Overhead Applied for $180,000.

 

C. Debit to Work in Process Inventory for $180,000.

 

D. Debit to Manufacturing Overhead Applied for $187,500.

 

 

 

77.Martinez Manufacturing applies overhead based on direct labor hours. The company estimates that their overhead for the year will be $180,000, and that they will use 72,000 direct labor hours. During the year, Martinez Manufacturing actually used 75,000 direct labor hours and actual overhead costs were $190,000. At the end of the year, manufacturing overhead was:   

A. Overapplied by $2,500.

 

B. Overapplied by $10,000.

 

C. Underapplied by $2,500.

 

D. Underapplied by $10,000.

 

 

 

78.Wilson Enterprises applies overhead based on direct labor cost. The company estimates that their overhead for the year will be $240,000, and direct labor cost to be $300,000. Actual direct labor cost for Martinez Manufacturing was $280,000. The journal entry to record manufacturing overhead would include a:   

A. Debit to Work in Process Inventory for $240,000.

 

B. Credit to Manufacturing Overhead Applied for $350,000.

 

C. Credit to Work in Process Inventory for $224,000.

 

D. Credit to Manufacturing Overhead Applied for $224,000.

 

 

 

79.Wilson Enterprises applies overhead based on direct labor cost. The company estimates that their overhead for the year will be $240,000, and direct labor cost to be $300,000. Actual direct labor cost for Martinez Manufacturing was $280,000 and actual overhead costs were $220,000. At the end of the year, manufacturing overhead was:   

A. Overapplied by $20,000.

 

B. Underapplied by $20,000.

 

C. Overapplied by $4,000.

 

D. Underapplied by $4,000.

 

 

 

80.At the end of the year the Manufacturing Overhead account is closed into what account?   

A. Work in Process

 

B. Finished Goods

 

C. Cost of Goods Sold

 

D. Manufacturing Overhead Control

 

 

 

 

81.At the end of the year, Harding Company had a balance in Manufacturing Overhead of $19,000, and a balance in Manufacturing Overhead Applied of $20,000. When the Manufacturing Overhead account is closed, the Cost of Goods Sold account will be:   

A. Increased by $1,000.

 

B. Decreased by $1,000.

 

C. Unaffected.

 

D. Closed to Manufacturing Overhead Applied.

 

 

 

 

82.At the end of the year, Easton Company had a balance in Manufacturing Overhead of $20,000, and a balance in Manufacturing Overhead Applied of $19,000. When the Manufacturing Overhead account is closed, the Cost of Goods Sold account will be:   

A. Increased by $1,000.

 

B. Decreased by $1,000.

 

C. Unaffected.

 

D. Closed to Manufacturing Overhead Applied.

 

 

83.How often are direct labor costs entered on the Job Order Cost Sheets?   

A. daily

 

B. weekly

 

C. monthly

 

D. immediately—as time cards are completed

 

 

 

 

84.What form is presented at the storeroom to obtain materials or supplies?   

A. Materials Request Form

 

B. Materials Requisition Form

 

C. Raw Materials Ledger Card

 

D. Production Order Form