Question : 101. Materials purchased account during the month amounted to $195,000. Materials : 1251536

 

 

101. Materials purchased on account during the month amounted to $195,000. Materials requisitioned and placed in production totaled $168,000. From the following, select the entry to record the transaction on the day the materials were requisitioned by the production department. 
A. Materials                             168,000
  Work in Process                                     168,000
B. Work in Process                  195,000
  Materials                                                195,000
C. Work in Process                  168,000
  Materials                                                168,000
D. Work in Process                  168,000
  Cash                                                       168,000

 

102. During the period, labor costs incurred on account amounted to $250,000 including $200,000 for production orders and $50,000 for general factory use. In addition, factory overhead charged to production was $23,000. From the following, select the entry to record the direct labor costs. 
A. Work in Process                  200,000
   Wages Payable                                       200,000
B. Work in Process                  250,000
   Wages Payable                                       250,000
C. Wages Payable                   250,000
  Work in Process                                       250,000
D. Wages Payable                    200,000
  Work in Process                                     200,000

 

103. During the period, labor costs incurred on account amounted to $250,000 including $200,000 for production orders and $50,000 for general factory use. In addition, factory overhead applied to production was $23,000. From the following, select the entry to record the actual factory overhead costs incurred. 
A. Accounts Payable                  50,000
  Factory Overhead                                     50,000
B. Factory Overhead                  23,000
  Accounts Payable                                     23,000
C. Work in Process                     50,000
  Wages Payable                                         50,000
D. Factory Overhead                   50,000
  Wages Payable                                         50,000

 

104. During the period, labor costs incurred on account amounted to $250,000 including $200,000 for production orders and $50,000 for general factory use. In addition, factory overhead applied to production was $23,000. From the following, select the entry to record the factory overhead applied to production. 
A. Work in Process                     50,000
  Factory Overhead                                     50,000
B. Factory Overhead                   23,000
  Work in Process                                       23,000
C. Work in Process                     23,000
  Factory Overhead                                     23,000
D. Factory Overhead                   50,000
  Accounts Payable                                     50,000

 

105. The cost of production of completed and finished goods during the period amounted to $400,000, and the finished products shipped to customers had total production costs of $337,000. From the following, select the entry to record the transfer of costs from work in process to finished goods. 
A. Finished Goods                    337,000
  Work in Process                                     337,000
B. Finished Goods                    400,000
  Work in Process                                     400,000
C. Work in Process                  400,000
  Finished Goods                                     400,000
D. Work in Process                  337,000
  Finished Goods                                     337,000

 

106. The cost of production of completed and finished goods during the period amounted to $400,000, and the finished products shipped to customers had total production costs of $337,000. From the following, select the entry to record the transfer of costs from finished goods to cost of goods sold. 
A. Finished Goods                    400,000
  Cost of Goods Sold                              400,000
B. Finished Goods                    337,000
  Cost of Goods Sold                              337,000
C. Cost of Goods Sold             337,000
  Finished Goods                                     337,000
D. Cost of Goods Sold             400,000
  Finished Goods                                     400,000

 

107. Costs that are used in generating revenues during the current period are often referred to as: 
A. period costs
B. conversion costs
C. factory overhead costs
D. product costs

 

108. Costs that are treated as assets until the product is sold are called: 
A. product costs
B. period costs
C. conversion costs
D. selling expenses

 

109. The period costs of a textbook publisher would include: 
A. wages of a press operator
B. factory utility costs
C. advertising expenses
D. paper costs

 

110. Which types of inventories does a manufacturing business report on the balance sheet? 
A. Finished goods inventory and work in process inventory
B. Direct materials inventory and work in process inventory
C. Direct materials inventory, work in process inventory, and finished goods inventory
D. Direct materials inventory and finished goods inventory

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more