Question

8) Under a job-order costing system, the dollar amount transferred from Work in Process to Finished Goods is the sum of the costs charged to all jobs:

A) started in process during the period.

B) in process during the period.

C) completed and sold during the period.

D) completed during the period.

9) Refer to the T-account below:

Manufacturing Overhead
(2)	4,000	(9)	150,000
(3)	15,000
(4)	80,000
(5)	30,000
(6)	25,000
	154,000		150,000
Bal.	4,000

Entry (4) could represent all of the following except:

A) Indirect labor cost incurred.

B) Factory insurance cost.

C) Overhead cost applied to Work in Process.

D) Depreciation on factory equipment.

10) Refer to the T-account below:

Work In Process
Bal.	30,000	(12)	270,000
(4)	90,000
(6)	70,000
(9)	110,000
Bal.	30,000

Entry (12) could represent which of the following?

A) Direct labor cost incurred in production.

B) Purchases of raw materials.

C) The cost of goods manufactured transferred to Finished Goods.

D) The cost of indirect materials incurred in production.

15) Overapplied manufacturing overhead would result if:

A) the plant was operated at less than normal capacity.

B) manufacturing overhead costs incurred were less than estimated manufacturing overhead costs.

C) manufacturing overhead costs incurred were less than manufacturing overhead costs charged to production.

D) manufacturing overhead costs incurred were greater than manufacturing overhead costs charged to production.

18) Gallon Corporation had $24,000 of raw materials on hand on April 1. During the month, the Corporation purchased an additional $52,000 of raw materials. During April, $62,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $2,000. The debits to the Work in Process account as a consequence of the raw materials transactions in April total:

A) $60,000

B) $62,000

C) $0

D) $52,000

Answer 1