Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Job 910 was recently completed

16/10/2021 Client: muhammad11 Deadline: 2 Day

1. Including Manufacturing Overhead Costs In Product Costs Ensures That Each Product Will Earn A Profit.

1. Including manufacturing overhead costs in product costs ensures that each product will earn a profit.

True

False

2. Nonmanufacturing costs are expensed as incurred, rather than charged to jobs.

True

False

3. If direct labor-hours is used as the allocation base in a job-order costing system, but overhead costs are not caused by direct-labor-hours, then jobs with high direct labor requirements will tend to be overcosted relative to jobs with low direct labor requirements.

True

False

4. The cost of goods manufactured equals ending work in process inventory, plus the total manufacturing cost charged to jobs, less beginning work in process inventory.

True

False

5. Two of the reasons why overhead may be underapplied are: (1) the estimated overhead cost may be too low, and (2) the estimated amount of the allocation base may be too high.

True

False

6. Which of the following statements is correct concerning job-order costing?

Job-order costing would be appropriate for a textbook publisher.

All the costs appearing on a job cost sheet are actual costs.

Indirect materials are charged to a specific job.

Job-order costing is mainly used in firms with homogeneous products such as oil refineries.

7. In a job-order costing system, the incurrence of indirect labor costs would be recorded as a charge to:

Manufacturing Overhead Incurred.

Finished Goods.

Work in Process.

Cost of Goods Sold.

8. If a predetermined overhead rate in a job-order costing system is based on machine-hours, which of the following would be used in the numerator and denominator?

Numerator Denominator

Estimated manufacturing overheadActual machine-hours

Actual manufacturing overheadEstimated machine-hours

Estimated manufacturing overheadActual machine-hours

Estimated manufacturing overheadEstimated machine-hours

9. Able Company uses a job-order costing system. In reviewing its records at the end of the year, the company has discovered that $2,000 of raw materials has been drawn from the storeroom and used in the production of Job 110, but that no entry has been made in the accounting records for the use of these materials. Job 110 has been completed but it is unsold at year end. This error will cause:

Work in Process to be understated by $2,000 at year end.

Cost of Goods Manufactured to be overstated by $2,000 for the year.

Finished Goods to be understated by $2,000 at the end of the year.

Cost of Goods Sold to be overstated by $2,000 for the year.

10. Elliott Company uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The company manufactures tools to customer specifications. The following data pertain to Job 1501:

Direct materials used ------------------------ $4,200

Direct labor-hours worked ---------------------- 300

Direct labor rate per hour --------------------- $8.00

Machine-hours used ---------------------------- 200

Predetermined overhead rate per machine-hour ---- $15.00

What is the total manufacturing cost recorded on Job 1501?

$8,800

$9,600

$10,300

$11,100

11. Job 910 was recently completed. The following data have been recorded on its job cost sheet:

Direct materials ----------------------------- $3,193

Direct labor-hours --------------------------- 21 labor-hours

Direct labor wage rate ------------------------ $12 per labor-hour

Machine-hours ---------------------------------- 166 machine-hours

The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $15 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be:

$3,220

$3,760

$5,935

$3,445

12. Linh Corporation applies manufacturing overhead to jobs on the basis of pounds of direct material used. Linh estimated 160,000 pounds of material usage and $200,000 of manufacturing overhead cost for the year. During the year, Linh actually used 150,000 pounds of material and incurred $171,000 of manufacturing overhead cost. What was Linh's underapplied or overapplied overhead for the year?

$12,500 underapplied

$16,500 overapplied

$17,600 underapplied

$29,000 overapplied

13. Chipata Corporation applies manufacturing overhead to jobs on the basis of machine-hours. Chipata estimated 25,000 machine-hours and $10,000 of manufacturing overhead cost for the year. During the year, Chipata incurred 26,200 machine-hours and $11,300 of manufacturing overhead. What was Chipata's underapplied or overapplied overhead for the year?

$480 overapplied

$820 underapplied

$1,300 overapplied

$1,300 underapplied

14. Reamer Company uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for next year:

Direct materials ----------------------- $1,000

Direct labor ---------------------------- $3,000

Sales commissions -------------------- $4,000

Salary of production supervisor ----- $2,000

Indirect materials ----------------------- $400

Advertising expense ------------------- $800

Rent on factory equipment ----------- $1,000

Reamer estimates that 500 direct labor-hours and 1,000 machine-hours will be worked during the year. The predetermined overhead rate per hour will be:

$6.80

$6.00

$3.00

$3.40

15. Daffe Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $165,600. At the end of the year, actual direct labor-hours for the year were 11,900 hours, manufacturing overhead for the year was overapplied by $10,760, and the actual manufacturing overhead was $160,600. The predetermined overhead rate for the year must have been closest to:

$14.40

$13.92

$13.50

$14.90

16. The following information relates to Araceli Manufacturing Company:

Total estimated manufacturing overhead cost at beginning of year ----------- $864,000

Predetermined overhead rate (based on machine-hours) ----------------- $7.20

Total manufacturing overhead cost incurred during the year ------------ $885,000

Total machine-hours incurred during the year ------------------------------- 118,000 hours

What was Araceli's underapplied or overapplied overhead for last year?

$35,400 overapplied

$35,400 underapplied

$15,000 underapplied

$21,000 overapplied

17. Rediger Inc. a manufacturing company, has provided the following data for the month of June. The balance in the Work in Process inventory account was $22,000 at the beginning of the month and $17,000 at the end of the month. During the month, the company incurred direct materials cost of $55,000 and direct labor cost of $28,000. The actual manufacturing overhead cost incurred was $53,000. The manufacturing overhead cost applied to jobs was $51,000. The cost of goods manufactured for June was:

$141,000

$139,000

$134,000

$136,000

18. Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $239,700 and 4,700 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $242,000 and actual direct labor-hours were 4,600.

The overhead for the year was:

$5,100 underapplied

$7,400 underapplied

$5,100 overapplied

$7,400 overapplied

19. Hamilton Company uses job-order costing. Manufacturing overhead is applied using a predetermined rate of 150% of direct labor cost. Any underapplied or overapplied manufacturing overhead is closed to Cost of Goods Sold at the end of each month. Additional information is available as follows:

Job 101 was the only job in process at January 31. The job cost sheet for this job contained the following costs at the beginning of the month:

Direct materials ---------------------------- $4,000

Direct labor ---------------------------------- $2,000

Applied manufacturing overhead ------ $3,000

 Jobs 102, 103, and 104 were started during February.

 Direct materials requisitions for February totaled $26,000.

 Direct labor cost of $20,000 was incurred for February.

 Actual manufacturing overhead was $32,000 for February.

 The only job still in process at February 28 was Job 104, with costs of $2,800 for direct materials and $1,800 for direct labor.

The cost of goods manufactured for February was:

$77,700

$78,000

$79,700

$85,000

20. Caple Corporation applies manufacturing overhead on the basis of machine-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $16,660. Actual manufacturing overhead for the year amounted to $25,000 and actual machine-hours were 1,460. The company's predetermined overhead rate for the year was $11.90 per machine-hour.

The predetermined overhead rate was based on how many estimated machine-hours?

1,400

2,101

2,742

1,460

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Top Writing Guru
Top Grade Essay
Assignment Guru
Peter O.
Finance Homework Help
24/7 Assignment Help
Writer Writer Name Offer Chat
Top Writing Guru

ONLINE

Top Writing Guru

After reading your project details, I feel myself as the best option for you to fulfill this project with 100 percent perfection.

$25 Chat With Writer
Top Grade Essay

ONLINE

Top Grade Essay

I have read your project description carefully and you will get plagiarism free writing according to your requirements. Thank You

$18 Chat With Writer
Assignment Guru

ONLINE

Assignment Guru

I have assisted scholars, business persons, startups, entrepreneurs, marketers, managers etc in their, pitches, presentations, market research, business plans etc.

$23 Chat With Writer
Peter O.

ONLINE

Peter O.

This project is my strength and I can fulfill your requirements properly within your given deadline. I always give plagiarism-free work to my clients at very competitive prices.

$27 Chat With Writer
Finance Homework Help

ONLINE

Finance Homework Help

I have assisted scholars, business persons, startups, entrepreneurs, marketers, managers etc in their, pitches, presentations, market research, business plans etc.

$18 Chat With Writer
24/7 Assignment Help

ONLINE

24/7 Assignment Help

As per my knowledge I can assist you in writing a perfect Planning, Marketing Research, Business Pitches, Business Proposals, Business Feasibility Reports and Content within your given deadline and budget.

$34 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

System analysis and design conclusion - Identify the word that the underlined appositive phrase renames - Disaster, Crisis, and Recovery Logistics - Product of sums from k map - Reframing organizations 5th edition summary - Diet and wellness plus sign in - Environment justice - Write a balanced chemical equation describing the reaction of zinc and hydrochloric acid. - A spiral staircase winds up to the top - Colgate palmolive promotion strategy - How do you move a slide in collapsed outline view - Honda ct90 wiring diagram - Together at one altar road to emmaus - Harvard referencing quick guide - Essentials of economics 3rd edition krugman - Battle of the beaks lab - Hodson phonological processes chart - Weldon fuel pump overhaul manual - Assignment, give me before 11pm tomorrow - Capstone make up work 1 - DQ 5 - Arkansas a narrative history sparknotes - Sodium hydroxide hydrochloric acid word equation - Glossary of mining terms - Covington city public schools - Scholarly Activity - Mlc horizon 5 review - 1000 words due 10/13/2020 Public health competencies - Arizer solo high capacity battery - CIFDQ5-1 - Assignment: Interview - Family Influence (Part B) - Lower back pain soap note example - Assignment 2 analysis on food security - Universal purpose of goods - How to interpret binary logistic regression in spss - Theasourses - Job sculpting harvard business review - Stand up handup pair up poster - Temple mill primary school - Architectural site plan presentation - Isbn 13 978 0 13 283487 2 - Plop plop fizz fizz lab answers - Who cann complete this assignment by 1PM TODAY ??? - Apply the compound frame black picture style - Can someone help me with this - Bloomberg market concepts score - North by northwest auction scene - Political Science Week 7 Discussion - Cover page of report - Criminal justice - Countries with autocracy based governments have - It infrastructure security best practices - 170 wessex ct valparaiso in - Compilation of separate clips in a film crossword - Claudette nevins cause of death - Locate coventry ac uk - Guinness northern counties rochdale - Operations management issues in toyota - Bath and body works supply chain - Who is twanna turner melby mother - Types of personal sin - Beyond fat city - How to get the odd mushroom in ocarina of time - The displacement in centimeters of a particle moving back - Chicago bulls emblem upside down - Eustachian tube dysfunction cks - Growing less dumb answer key - Always allow blank to complete a writing project - 2 questions - Connecting teachers students and standards - What is the largest capacity - Poetry makes nothing happen julia alvarez poem - Black rock with green crystals - An incident based nursing peer review committee - Integrated marketing communications affects all of the following except - Imagery in the chimney sweeper - Maximum power transfer lab report - Which of the following generates demand for foreign currencies? - Vhdl seven segment display code - Parker company produces mathematical and financial - Gmdss goc renewal form - Equilibrium and le chatelier's principle lab - Unit 1 Assessment - Environmental Literacy Plan – Phase I - How do working credits work - Optocoupler current transfer ratio - Apple retail iphone upgrade program - Schads award level descriptions - Discussion - MISS PROFESSOR ONLY - Disussion - Capital budgeting questions and answers - Process philosophy and family and marriage - Divesting businesses can accomplish many different objectives including - Season of life jeffrey marx sparknotes - English - Onbase unity client installation - ECON Forum Replies - Skepticism most closely falls under which branch of ethical theory? - Whitehirst park primary school - Pmos fabrication process steps