Question :
76.The following information available for completed Job No. 402: Direct : 1311612
76.The following information is available for completed Job No. 402: Direct materials, $80,000; direct labor, $120,000; manufacturing overhead applied, $60,000; units produced, 5,000 units; units sold, 4,000 units. The cost of the finished goods on hand from this job is
a.$40,000.
b.$260,000.
c.$52,000.
d.$208,000.
77.Sportly, Inc. completed Job No. B14 during 2013. The job cost sheet listed the following:
Direct materials$55,000
Direct labor$30,000
Manufacturing overhead applied$20,000
Units produced3,000 units
Units sold1,800 units
How much is the cost of the finished goods on hand from this job?
a.$105,000
b.$63,000
c.$42,000
d.$51,000
78.Madison Inc. uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2013 totaled $18,000 of materials, $9,000 of direct labor costs, and $6,000 of manufacturing overhead applied. The company ships all goods as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning work in process totaled $15,000, and the ending balance is $9,000. During the year, the company completed 20 machines. How much is the cost per machine?
a.$1,350
b.$1,950
c.$1,650
d.$2,400
79.As of December 31, 2013, Nilsen Industries had $2,000 of raw materials inventory. At the beginning of 2013, there was $1,600 of materials on hand. During the year, the company purchased $324,000 of materials; however it paid for only $314,000. How much inventory was requisitioned for use on jobs during 2013?
a.$324,400
b.$314,400
c.$313,600
d.$323,600
80.Cost of goods manufactured equals $65,000 for 2013. Finished goods inventory is $2,000 at the beginning of the year and $5,500 at the end of the year. Beginning and ending work in process for 2013 are $4,000 and $5,000, respectively. How much is cost of goods sold for the year?
a.$67,500
b.$63,000
c.$61,500
d.$68,500
81.A company expected its annual overhead costs to be $1,800,000 and direct labor costs to be $1,000,000. Actual overhead was $1,740,000, and actual labor costs totaled $1,100,000. How much is the company’s predetermined overhead rate to the nearest cent?
a.$1.74
b.$1.57
c.$1.80
d.$1.64
82.Vektek, Inc. thinks machine hours is the best activity base for its manufacturing overhead. The estimate of annual overhead costs for its jobs was $1,025,000. The company used 1,000 hours of processing on Job No. B12 during the period and incurred overhead costs totaling $1,050,000. The budgeted machine hours for the year totaled 20,000. How much overhead should be applied to Job No. B12?
a.$1,050
b.$51,250
c.$52,500
d.$1,025
83.Barr Mfg. provided the following information from its accounting records for 2013:
Expected production30,000 labor hours
Actual production28,000 labor hours
Budgeted overhead$900,000
Actual overhead$870,000
How much is the overhead application rate if Barr bases the rate on direct labor hours?
a. $32.14 per hour
b. $30.00 per hour
c. $29.00 per hour
d. $31.07 per hour
84.Kinney Company applies overhead on the basis of 150% of direct labor cost. Job No. 176 is charged with $100,000 of direct materials costs and $120,000 of manufacturing overhead. The total manufacturing costs for Job No. 176 is
a.$220,000.
b.$400,000.
c.$300,000.
d.$270,000.
85.Redman Company manufactures customized desks. The following pertains to Job No. 978:
Direct materials used$11,450
Direct labor hours worked360
Direct labor rate per hour$15.00
Machine hours used300
Applied factory overhead rate per machine hour$22.00
What is the total manufacturing cost for Job No. 978?
a.$21,650
b.$23,450
c.$24,950
d.$26,750
