Question 1

The unit product cost for Job M598 is closest to:

Accepted Answer

A) $65.25 
B) $160.75 
C) $215.25 
D) $43.05 
A) $65.25 
B) $160.75 
C) $215.25 
D) $43.05

Question 2

The total job cost for Job K332 is closest to:

Accepted Answer

A) $5,775 
B) $6,132 
C) $6,587 
D) $1,267 
A) $5,775 
B) $6,132 
C) $6,587 
D) $1,267

Question 3

Huang Aerospace Corporation manufactures aviation control panels in two departments, Fabrication and Assembly.In the Fabrication department, Huang uses a predetermined overhead rate of $30 per machine-hour.In the Assembly department, Huang uses a predetermined overhead rate of $12 per direct labor-hour.During the current year, Job #X2984 incurred the following number of hours in each department:   What is the total amount of manufacturing overhead that Huang should have applied to Job #X2984 during the current year?

Accepted Answer

A) $1,200 
B) $1,500 
C) $1,560 
D) $1,734 
A) $1,200 
B) $1,500 
C) $1,560 
D) $1,734

Question 4

Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121,000 and 10,000 direct labor-hours for the period.The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period.The predetermined overhead rate is closest to:

Accepted Answer

A) $10.37 
B) $12.10 
C) $11.10 
D) $11.30 
A) $10.37 
B) $12.10 
C) $11.10 
D) $11.30

Question 5

If a job is not completed at year end, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used.

Accepted Answer

A) True 
 B)False

Question 6

The estimated total manufacturing overhead for the Customizing Department is closest to:

Accepted Answer

A) $54,110 
B) $30,100 
C) $98,700 
D) $68,600 
A) $54,110 
B) $30,100 
C) $98,700 
D) $68,600

Question 7

Luarca Corporation has two manufacturing departments--Casting and Customizing.The company used the following data at the beginning of the year to calculate predetermined overhead rates:   During the most recent month, the company started and completed two jobs--Job F and Job L.There were no beginning inventories.Data concerning those two jobs follow:   Required:
Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 50% on manufacturing cost to establish selling prices.Calculate the selling prices for Job F and Job L.

Accepted Answer

The first step is to calculate the estim

Question 8

If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to:

Accepted Answer

A) $363.30 
B) $103.80 
C) $383.30 
D) $324.80 
A) $363.30 
B) $103.80 
C) $383.30 
D) $324.80

Question 9

Almaraz Corporation has two manufacturing departments--Forming and Finishing.The company used the following data at the beginning of the year to calculate predetermined overhead rates:   Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.That predetermined manufacturing overhead rate is closest to:

Accepted Answer

A) $6.62 
B) $4.87 
C) $4.10 
D) $7.10 
A) $6.62 
B) $4.87 
C) $4.10 
D) $7.10

Question 10

Levi Corporation uses a predetermined overhead rate of $23.40 per direct labor-hour.This predetermined overhead rate was based on estimated total fixed manufacturing overhead of $702,000 and 30,000 direct labor-hours for the period.The company incurred actual total fixed manufacturing overhead of $738,000 and 27,100 total direct labor-hours during the period.
Required:
Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.

Accepted Answer

The answer of Levi Corporation uses a predetermined overhead rate...

Question 11

The total amount of overhead applied in both departments to Job K928 is closest to:

Accepted Answer

A) $1,405 
B) $2,000 
C) $810 
D) $595 
A) $1,405 
B) $2,000 
C) $810 
D) $595

Question 12

The estimated total manufacturing overhead is closest to:

Accepted Answer

A) $475,000 
B) $285,000 
C) $190,000 
D) $285,004 
A) $475,000 
B) $285,000 
C) $190,000 
D) $285,004

Question 13

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job M is closest to:

Accepted Answer

A) $10,830 
B) $7,400 
C) $25,730 
D) $7,500 
A) $10,830 
B) $7,400 
C) $25,730 
D) $7,500

Question 14

The amount of overhead applied in the Assembly Department to Job P131 is closest to:

Accepted Answer

A) $228.00 
B) $558.00 
C) $65,500.00 
D) $786.00 
A) $228.00 
B) $558.00 
C) $65,500.00 
D) $786.00

Question 15

The estimated total manufacturing overhead for the Customizing Department is closest to:

Accepted Answer

A) $63,500 
B) $21,500 
C) $42,000 
D) $33,853 
A) $63,500 
B) $21,500 
C) $42,000 
D) $33,853

Question 16

If the company marks up its unit product costs by 40% then the selling price for a unit in Job M598 is closest to:

Accepted Answer

A) $321.35 
B) $225.05 
C) $86.10 
D) $301.35 
A) $321.35 
B) $225.05 
C) $86.10 
D) $301.35

Question 17

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job J is closest to:

Accepted Answer

A) $28,208 
B) $18,748 
C) $12,464 
D) $15,744 
A) $28,208 
B) $18,748 
C) $12,464 
D) $15,744

Question 18

If the company marks up its unit product costs by 20% then the selling price for a unit in Job X455 is closest to:

Accepted Answer

A) $258.32 
B) $190.80 
C) $39.72 
D) $238.32 
A) $258.32 
B) $190.80 
C) $39.72 
D) $238.32

Question 19

The amount of overhead applied to Job P513 is closest to:

Accepted Answer

A) $76 
B) $190 
C) $266 
D) $114 
A) $76 
B) $190 
C) $266 
D) $114

Question 20

Teasley Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.The company based its predetermined overhead rate for the current year on 70,000 machine-hours, total fixed manufacturing overhead cost of $630,000, and a variable manufacturing overhead rate of $3.40 per machine-hour.Job X159 was recently completed.The job cost sheet for the job contained the following data:   Required:
Calculate the total job cost for Job X159.

Accepted Answer

Estimated total manufacturing overhead c

The unit product cost for Job M598 is closest to:

The total job cost for Job K332 is closest to:

If a job is not completed at year end, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used.

The estimated total manufacturing overhead for the Customizing Department is closest to:

If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to:

The total amount of overhead applied in both departments to Job K928 is closest to:

The estimated total manufacturing overhead is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job M is closest to:

The amount of overhead applied in the Assembly Department to Job P131 is closest to:

The estimated total manufacturing overhead for the Customizing Department is closest to:

If the company marks up its unit product costs by 40% then the selling price for a unit in Job M598 is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job J is closest to:

If the company marks up its unit product costs by 20% then the selling price for a unit in Job X455 is closest to:

The amount of overhead applied to Job P513 is closest to:

Managerial Accounting and Cost Concepts

Job-Order Costing: Cost Flows and External Reporting

Activity-Based Costing

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Master Budgeting

Performance Measurement in Decentralized Organizations

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Flexible Budgets Standard Costs and Variance Analysis

Statement of Cash Flows

Financial Statement Analysis

Job-Order Costing: Cost Flows and External Reporting

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Flexible Budgets, Standard Costs, and Variance Analysis

Flexible Budgets, Standard Costs, and Variance Analysis

A Capital Budgeting Decisions

A Statement of Cash Flows

Filters

Exam 2: Job-Order Costing: Calculating Unit Product Costs

The unit product cost for Job M598 is closest to:

The total job cost for Job K332 is closest to:

If a job is not completed at year end, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used.

The estimated total manufacturing overhead for the Customizing Department is closest to:

If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to:

The total amount of overhead applied in both departments to Job K928 is closest to:

The estimated total manufacturing overhead is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job M is closest to:

The amount of overhead applied in the Assembly Department to Job P131 is closest to:

The estimated total manufacturing overhead for the Customizing Department is closest to:

If the company marks up its unit product costs by 40% then the selling price for a unit in Job M598 is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job J is closest to:

If the company marks up its unit product costs by 20% then the selling price for a unit in Job X455 is closest to:

The amount of overhead applied to Job P513 is closest to:

Managerial Accounting and Cost Concepts

Job-Order Costing: Cost Flows and External Reporting

Activity-Based Costing

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Master Budgeting

Performance Measurement in Decentralized Organizations

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Flexible Budgets Standard Costs and Variance Analysis

Statement of Cash Flows

Financial Statement Analysis

Job-Order Costing: Cost Flows and External Reporting

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Flexible Budgets, Standard Costs, and Variance Analysis

Flexible Budgets, Standard Costs, and Variance Analysis

A Capital Budgeting Decisions

A Statement of Cash Flows

Filters