Review 1
Review 1
Review 1
Q1
GA Co. produces washers and dryers in an assembly-line process. Labor costs incurred
$180,000; security guards, $45,000; and plant supervisor, $110,000. The total of GA’s
A. $110,000.
B. $180,000.
C. $155,000.
D. $235,000.
E. $735,000
Q2
A. Plant custodian.
B. Salesperson.
E. A line employee that produces parts for chairs using a saw and template
Q3
A. Indirect materials.
B. Factory utilities.
C. Factory equipment.
D. Indirect labor.
Q4
D. the estimated overhead costs by total estimated quantity of the overhead allocation
base
Q5
Ron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming
2 year to be $760,000 and $520,000, respectively. Ron allocates overhead costs based
on machine hours. The estimated total labor hours and machine hours for the coming
year are 16,000 hours and 8000 hours, respectively. What is the predetermined
overhead
Q6
Remy also estimated 7000 machine hours and 2000 direct labor hours for the year. It
bases the predetermined overhead allocation rate on machine hours. On January 31,
Job
25 was completed. It required 5 machine hours and 4 direct labor hours. What is the
A. $79
B. $707
C. $393
D. $1375
Q7
In a production cost report, ________ includes the number of units completed and
transferred out of a process and the number of units remaining in ending WIP. The
weighted-average method is used.
Q8
$280,000 in direct material costs and $70,000 in conversion costs. The equivalent units
of production for direct materials and conversion costs are 1500 and 600, respectively.
The weighted-average method is used. The cost per equivalent unit of production
(EUP)
for conversion costs is ________. (Round your answer to the nearest cent.)
Q9
D. prime costs.
E. period costs.
Q10
What would the cost of fire insurance for a manufacturing plant generally be
categorized as?
A. Prime cost.
C. Period cost.
D. Direct labor cost.
Q11
How should a company that manufactures automobiles classify its partially completed
vehicles?
A. Supplies.
E. Work-in-process inventory.
Q12
Q13
The journal entry to issue indirect materials to production should include a debit to
the ________.
Q14
A) a form used to track the transfer of raw materials to the production floor
B) a record that shows the raw materials balance as well as raw materials received and
issued
C) a document that shows direct materials, direct labor and manufacturing overhead
costs for an individual job
Q15
Q16
Q17
month was $125,000. The cost of goods manufactured during July was:
A. $104,000.
B. $125,000.
C. $117,000.
D. $133,000.
Q18
Plating Company reported a cost of goods manufactured of $520,000, with the firm's
year-end balance sheet revealing work in process and finished goods of $70,000 and
A. $130,000.
B. $10,000.
C. $66,000.
D. $390,000.
Q19