Question : 81. Each account in the cost ledger called a: A. finished goods sheetB. stock : 1234303

 

81. Each account in the cost ledger is called a: A. finished goods sheetB. stock recordC. materials requisitionD. job cost sheet

82. Selected accounts with some debits and credits omitted are presented as follows: 

Work in Process

Aug. 1

Balance

275,000    

Aug. 31

Goods finished

1,230,000

      31

Direct materials

X    

 

 

 

      31

Direct labor

350,000     

 

 

 

      31

Factory overhead

X    

 

 

 

 

 

 

 

 

 

 

Factory Overhead

Aug. 1-31

Costs incurred

90,000  

Aug. 1

Balance

15,000

 

 

 

       31

Applied

 

 

 

 

 

  (30% of direct  labor cost)

X

 

 

 

 

 

 

If the balance of Work in Process at August 31 is $200,000, what was the amount debited to Work in Process for direct materials in August? A. $700,000B. $805,000C. $300,000D. $605,000

83. Selected accounts with some debits and credits omitted are presented as follows: 

Work in Process

Aug. 1

Balance

275,000  

Aug. 31

Goods finished

1,230,000

      31

Direct materials

X  

 

 

 

      31

Direct labor

350,000  

 

 

 

      31

Factory overhead

X  

 

 

 

 

 

 

 

 

 

 

Factory Overhead

Aug. 1-31

Costs incurred

90,000  

Aug. 1

Balance

15,000

 

 

 

      31

Applied

X

 

 

 

 

 

 

If the balance of Work in Process at August 31 is $200,000, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30%? A. $105,000B. $120,000C. $90,000D. $70,000

84. Selected accounts with some debits and credits omitted are presented as follows: 

Work in Process

Oct. 1

Balance

20,000  

Oct. 31

Goods finished

X

      31

Direct materials

96,700  

 

 

 

      31

Direct labor

201,000  

 

 

 

      31

Factory overhead

X  

 

 

 

 

 

 

 

 

 

 

Finished Goods

Oct. 1

Balance

52,000  

 

 

 

      31

Goods finished

360,000  

 

 

 

 

 

 

 

 

 

If the balance of Work in Process at October 31 is $21,000, what was the amount of factory overhead applied in October? A. $63,300B. $21,300C. $42,300D. $11,300

85. Selected accounts with some debits and credits omitted are presented as follows: 

Work in Process

Apr. 1

Balance

7,000  

Apr. 30

Goods finished

X

      30

Direct materials

78,400  

 

 

 

      30

Direct labor

195,000  

 

 

 

      30

Factory overhead

136,500  

 

 

 

 

 

 

 

 

 

 

Finished Goods

Apr. 1

Balance

42,000  

 

 

 

      30

Goods finished

387,000  

 

 

 

 

 

 

 

 

 

What was the balance of Work in Process as of April 30? A. $8,100B. $35,000C. $29,900D. $22,900

86. If the amount of factory overhead cost incurred exceeds the amount applied, the factory overhead account will have a: A. debit balance and be underappliedB. debit balance and be overabsorbedC. credit balance and be overappliedD. debit balance and be overapplied

87. The recording of the factory labor incurred for general factory use would include a debit to: A. Factory OverheadB. Wages PayableC. Wages ExpenseD. Cost of Goods Sold

88. The recording of the application of factory overhead costs to jobs would include a credit to: A. Factory OverheadB. Wages PayableC. Work in ProcessD. Cost of Goods Sold

89. The recording of the jobs completed would include a debit to: A. Factory OverheadB. Finished GoodsC. Work in ProcessD. Cost of Goods Sold

90. The recording of the jobs completed would include a credit to: A. Factory OverheadB. Finished GoodsC. Work in ProcessD. Cost of Goods Sold