Question : 81. The details concerning the costs incurred each job order accumulated : 1251534

 

 

81. The details concerning the costs incurred on each job order are accumulated in a subsidiary ledger known as the: A. stock ledgerB. materials ledgerC. cost ledgerD. creditors ledger

 

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

 

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

Work in Process

Aug. 1Balance275,000Aug. 31Goods finished1,030,000

31Direct materialsX

31Direct labor450,000

31Factory overheadX

 

Factory Overhead

Aug. 1-31Costs incurred145,000Aug. 1Balance15,000

31Applied

(30% of direct  labor cost)X

If the balance of Work in Process at August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August? A. $390,000B. $170,000C. $525,000D. $580,000

 

84. 9685554444444444444444444444444444444Selected accounts with some debits and credits omitted are presented as follows: 

Work in Process

Aug. 1Balance275,000Aug. 31Goods finished1,030,000

31Direct materialsX

31Direct labor450,000

31Factory overheadX

 

Factory Overhead

Aug. 1-31Costs incurred145,000Aug. 1Balance15,000

31AppliedX

If the balance of Work in Process at August 31 is $220,000, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs? A. $135,000B. $10,000C. $120,000D. $70,000

 

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

Work in Process

Oct. 1Balance20,000Oct. 31Goods finishedX

31Direct materials96,700

31Direct labor201,000

31Factory overheadX

 

Finished Goods

Oct. 1Balance52,000

31Goods finished360,000

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

 

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

Work in Process

Apr. 1Balance7,000Apr. 30Goods finishedX

30Direct materials78,400

30Direct labor195,000

30Factory overhead136,500

 

Finished Goods

Apr. 1Balance42,000

30Goods finished387,000

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

 

87. 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. credit balance and be underappliedC. credit balance and be overappliedD. debit balance and be overapplied

 

88. 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

 

89. 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

 

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

 

 

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