FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 5: Systems Design: Job-Order Costing

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 61

Multiple Choice

Review LaterAdd Note

Review Later

Borys Inc. ,which uses job-order costing,has provided the following data for April: The cost of goods manufactured for April is closest to:

A) $226,000
B) $234,000
C) $231,000
D) $223,000

E) All of the above
F) C) and D)

Correct Answer

verified

Show Answer

Question 62

Essay

Review LaterAdd Note

Review Later

Epperson Inc. ,which uses job-order costing,has provided the following data for January: Required: Determine the unadjusted cost of goods sold (in other words,cost of goods sold before adjusting for any underapplied or overapplied overhead) for January.Show your work!

Correct Answer

verified

Cost of Go...

View Answer

Show Answer

Question 63

Multiple Choice

Review LaterAdd Note

Snappy Company has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs.Manufacturing overhead cost and direct labor hours were estimated at $100,000 and 40,000 hours,respectively,for the year.In July,Job #334 was completed at a cost of $5,000 in direct materials and $2,400 in direct labor.The labor rate is $6 per hour.By the end of the year,Snappy had worked a total of 45,000 direct labor-hours and had incurred $110,250 actual manufacturing overhead cost. -If Job #334 contained 200 units,the unit product cost on the completed job cost sheet would be:

Which of the following would probably be the least appropriate allocation base for allocating overhead in a highly automated manufacturer of specialty valves?

Dowan Company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs.Last year Dowan Company incurred $156,600 in actual manufacturing overhead cost.Overhead was underapplied by $12,600 for the year.If the predetermined overhead rate is $6.00 per direct labor-hour,how many hours did the company work during the year?

Scarnato Inc. ,which uses job-order costing,has provided the following data for May: The cost of goods manufactured for May is closest to:

Karvel Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs.For the month of August,Karvel estimated total manufacturing overhead costs at $300,000 and total machine-hours at 75,000 hours.Actual results for the period were manufacturing overhead costs of $290,000 and 76,000 machine-hours.As a result,Karvel would have:

The cost of goods sold in a single product company is equal to the number of units sold multiplied by any overapplied overhead or underapplied overhead.

The following cost data relate to the manufacturing activities of the Kanaba Company last year: The company uses a predetermined overhead rate to apply manufacturing overhead cost to production.The rate last year was $5.00 per machine-hour;a total of 5,000 machine-hours were recorded for the year. Required: a.Compute the amount of underapplied or overapplied overhead cost for the year. b.Prepare a schedule of Cost of Goods Manufactured for the year.

If the actual manufacturing overhead costs for a period exceed the manufacturing overhead costs applied,then overhead would be considered to be overapplied.

To apply overhead to a job,actual overhead costs are added to manufacturing overhead.

Job 827 was recently completed.The following data have been recorded on its job cost sheet: The company applies manufacturing overhead on the basis of machine-hours.The predetermined overhead rate is $13 per machine-hour. Required: Compute the unit product cost that would appear on the job cost sheet for this job.

Henning Inc.uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month.The company has provided the following data for June: -The cost of goods manufactured for June is closest to:

Heming Inc.uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month.The company's cost of goods manufactured for September was $114,000;its beginning finished goods inventory was $31,000;its ending finished goods inventory was $35,000;its manufacturing overhead was underapplied by $5,000. Required: Determine the cost of goods sold that would appear on the income statement for September;in other words,determine the cost of goods sold after adjustment for any underapplied or overapplied overhead.Show your work!