Deck 3: Job-Order Costing

Question 1

The unadjusted cost of goods sold (in other words, the cost of goods sold before adjustment for any underapplied or overapplied overhead) in a single product company is equal to the number of units sold multiplied by their unit product cost.

Answer 1

True

Question 2

If the amount charged to the Manufacturing Overhead Incurred account during a period is less than the manufacturing overhead charged to jobs during the period, overhead was underapplied.

Answer 2

False

Question 3

There are two acceptable methods for closing out any balance of underapplied or overapplied overhead. One method involves allocation, whereas the other closes any balance directly to:

A)Finished Goods inventory.
B)Cost of Goods Sold.
C)Cost of Goods Manufactured.
D)Work in Process inventory.

Answer 3

B

Question 4

When applying manufacturing overhead to jobs, the formula to calculate the amount is as follows:

A)Predetermined overhead rate divided by the actual manufacturing overhead incurred on the particular job.
B)Predetermined overhead rate times the actual manufacturing overhead incurred on the particular job.
C)Predetermined overhead rate divided by the actual units of allocation base charged to the particular job.
D)Predetermined overhead rate times the actual units of allocation base charged to the particular job.

Question 5

A job cost sheet is used to accumulate costs charged to a job.

Question 6

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

Question 7

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

Question 8

The entire difference between the actual manufacturing overhead cost for a period and the applied manufacturing overhead cost is typically closed to the Work In Process account.

Question 9

The use of predetermined overhead rates in a job-order cost system makes it possible to estimate the total cost of a given job as soon as production is completed.

Question 10

Emco Company uses direct labor cost as a basis for computing its predetermined overhead rate. In computing the predetermined overhead rate for last year, the company misclassified a portion of direct labor cost as indirect labor. The effect of this misclassification will be to:

A)understate the predetermined overhead rate.
B)overstate the predetermined overhead rate.
C)have no effect on the predetermined overhead rate.
D)cannot be determined from the information given.

Question 11

Choice of allocation base should be made based on:

A)the relative size of the base.
B)the base's relation to direct labor.
C)the base's activity.
D)whether the base actually drives the cost being allocated.

Question 12

The formula for computing the predetermined overhead rate is:
Estimated total units in base ÷ Estimated total manufacturing costs

Question 13

The process of assigning overhead cost to jobs is known as applying overhead.

Question 14

The cost of a completed job in a job-order costing system typically consists of the actual materials cost of the job, the actual labor cost of the job, and the actual amount of manufacturing overhead cost of the job.

Question 15

Which of the following documents is used to specify the type and quantity of materials drawn from the storeroom, and identifies the job to which the costs of the materials are to be charged?

A)Job Cost Sheet
B)Bill of Materials
C)Material Requisition Form
D)Purchase Order

Question 16

Ending finished goods inventory in a single product company equals the number of units in ending inventory multiplied by their unit product cost.

Question 17

The Cost of Goods Manufactured represents:

A)the amount of cost charged to jobs during the period.
B)the amount of cost transferred from Finished Goods to Cost of Goods Sold during the period.
C)the amount of cost placed into production during the period.
D)the cost of goods completed during the current year whether they were started before or during the current year.

Question 18

Cost of goods sold equals beginning finished goods inventory, less cost of goods manufactured, plus ending finished goods inventory.

Question 19

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

Question 20

Underapplied or overapplied overhead represents the difference between actual manufacturing overhead costs and applied manufacturing overhead costs.

Question 21

Kelsh 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: Kelsh estimates that 5,000 direct labor-hours and 10,000 machine-hours will be worked during the year. The predetermined overhead rate per hour will be:

A)$6.80
B)$6.40
C)$3.40
D)$8.20

Question 22

Capalbo Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 52,000 labor-hours. The estimated variable manufacturing overhead was $2.78 per labor-hour and the estimated total fixed manufacturing overhead was $1,192,360. The actual labor-hours for the year turned out to be 52,600 labor-hours. The predetermined overhead rate for the recently completed year was closest to:

A)$2.78
B)$25.45
C)$25.71
D)$22.93

Question 23

Job 731 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 $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 731 would be:

A)$3,288
B)$5,094
C)$4,254
D)$2,418

Question 24

Freeman Company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. At the beginning of the year, the company estimated manufacturing overhead would be $150,000 and direct labor-hours would be 10,000. The actual figures for the year were $186,000 for manufacturing overhead and 12,000 direct labor-hours. The cost records for the year will show:

A)overapplied overhead of $30,000
B)underapplied overhead of $30,000
C)underapplied overhead of $6,000
D)overapplied overhead of $6,000

Question 25

Hayne Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the most recently completed year appear below: The predetermined overhead rate for the recently completed year was closest to:

A)$7.89
B)$30.95
C)$24.52
D)$32.41

Question 26

The Work in Process inventory account of a manufacturing firm shows a balance of $3,000 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of $500 and $300 for materials, and charges of $400 and $600 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of:

A)83%
B)120%
C)40%
D)300%

Question 27

Yista Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The company estimated manufacturing overhead at $510,000 for the year and direct labor-hours at 100,000 hours. Actual manufacturing overhead costs incurred during the year totaled $540,000. Actual direct labor-hours were 105,000. What was the overapplied or underapplied manufacturing overhead for the year?

A)$30,000 overapplied
B)$30,000 underapplied
C)$4,500 overapplied
D)$4,500 underapplied

Question 28

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?

A)26,000 hours
B)24,000 hours
C)28,200 hours
D)25,000 hours

Question 29

Wert Corporation uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. Last year, the company's estimated manufacturing overhead was $1,200,000 and its estimated level of activity was 50,000 direct labor-hours. The company's direct labor wage rate is $12 per hour. Actual manufacturing overhead amounted to $1,240,000, with actual direct labor cost of $650,000. For the year, manufacturing overhead was:

A)overapplied by $60,000
B)underapplied by $60,000
C)overapplied by $40,000
D)underapplied by $44,000

Question 30

Crinks Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 11,200 hours and the total estimated manufacturing overhead was $259,840. At the end of the year, actual direct labor-hours for the year were 10,800 hours and the actual manufacturing overhead for the year was $254,840. Overhead at the end of the year was:

A)$4,280 overapplied
B)$9,280 overapplied
C)$9,280 underapplied
D)$4,280 underapplied

Question 31

Washtenaw Corporation uses a job-order costing system. The following data are for last year: Washtenaw applies overhead using a predetermined rate based on direct labor-hours. What predetermined overhead rate was used last year?

A)$3.55 per direct labor-hour
B)$3.25 per direct labor-hour
C)$3.08 per direct labor-hour
D)$3.36 per direct labor-hour

Question 32

Simoneaux Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the machine-hours for the upcoming year at 22,000 machine-hours. The estimated variable manufacturing overhead was $8.65 per machine-hour and the estimated total fixed manufacturing overhead was $609,400. The predetermined overhead rate for the recently completed year was closest to:

A)$36.35 per machine-hour
B)$27.70 per machine-hour
C)$33.32 per machine-hour
D)$8.65 per machine-hour

Question 33

Malcolm Company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The cost records for September will show:

A)Overapplied overhead of $1,500
B)Underapplied overhead of $1,500
C)Overapplied overhead of $3,500
D)Underapplied overhead of $3,500

Question 34

Kaiser Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: The predetermined overhead rate for the recently completed year was closest to:

A)$6.68
B)$25.02
C)$25.59
D)$18.34

Question 35

Brace Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 21,600 hours. At the end of the year, actual direct labor-hours for the year were 20,400 hours, the actual manufacturing overhead for the year was $506,920, and manufacturing overhead for the year was underapplied by $23,440. The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must have been:

A)$501,920
B)$531,445
C)$483,480
D)$511,920

Question 36

In a job-order costing system, direct labor costs are ordinarily charged to:

A)Manufacturing Overhead Incurred
B)Cost of Goods Sold
C)Finished Goods
D)Job cost sheets

Question 37

Daguio Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $224,580. At the end of the year, actual direct labor-hours for the year were 18,200 hours, manufacturing overhead for the year was underapplied by $12,100, and the actual manufacturing overhead was $219,580. The predetermined overhead rate for the year must have been closest to:

A)$11.40
B)$12.34
C)$12.06
D)$10.53

Question 38

At the beginning of the year, manufacturing overhead for the year was estimated to be $267,500. At the end of the year, actual direct labor-hours for the year were 22,100 hours, the actual manufacturing overhead for the year was $262,500, and manufacturing overhead for the year was overapplied by $13,750. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been:

A)22,100 direct labor-hours
B)19,900 direct labor-hours
C)21,000 direct labor-hours
D)21,400 direct labor-hours

Question 39

In job-order costing, all of the following statements are correct with respect to labor time and cost except:

A)time tickets are kept by employees showing the amount of work on specific jobs.
B)the job cost sheet for a job will contain all direct labor charges to that particular job.
C)labor cost that can be traced to a job only with a great deal of effort is treated as part of manufacturing overhead.
D)a machine operator performing routine annual maintenance work on a piece of equipment would charge the maintenance time to a specific job.

Question 40

The following data have been recorded for recently completed Job 674 on its job cost sheet. Direct materials cost was $2,039. A total of 32 direct labor-hours and 175 machine-hours were worked on the job. The direct labor wage rate is $14 per labor-hour. The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $15 per machine-hour. The total cost for the job on its job cost sheet would be:

A)$2,967
B)$2,487
C)$2,068
D)$5,112

Question 41

Sharp Company's records show that overhead was overapplied by $10,000 last year. This overapplied overhead was closed out to the Cost of Goods Sold account at the end of the year. In trying to determine why overhead was overapplied by such a large amount, the company has discovered that $6,000 of depreciation on factory equipment was charged to administrative expense in error. Given the above information, which of the following statements is true?

A)Manufacturing overhead was actually overapplied by $16,000 for the year.
B)The company's net income is understated by $6,000 for the year.
C)Under the circumstances posed above, the error in recording depreciation would have no effect on net operating income for the year.
D)The $6,000 in depreciation should have been charged to jobs rather than to administrative expense.

Question 42

The Donaldson Company uses a job-order costing system. The following data were recorded for July: Overhead is applied to jobs at the rate of 80% of direct materials cost. Jobs 475, 477, and 478 were completed during July and transferred to finished goods. Jobs 475 and 478 have been delivered to the customer. Donaldson's Work in Process inventory balance on July 31 was:

A)$7,280
B)$2,600
C)$3,160
D)$3,320

Question 43

Molano Corporation has provided the following data concerning manufacturing overhead for June: The company's Cost of Goods Sold was $255,000 prior to adjusting for any underapplied or overapplied overhead. Which of the following statements is true?

A)Manufacturing overhead was underapplied by $7,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $248,000
B)Manufacturing overhead was overapplied by $7,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $248,000
C)Manufacturing overhead was underapplied by $7,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $262,000
D)Manufacturing overhead was overapplied by $7,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $262,000

Question 44

Falwell Inc., which uses job-order costing, has provided the following data for June: $$\begin{array} { l r r } \text { Inventories: } & \text { Beginning } & \text { Ending } \\\text { Work in process ..... } & \$ 15,000 & \$ 22,000 \\\text { Finished goods ...... } & \$ 38,000 & \$ 37,000\end{array}$$ The unadjusted cost of goods sold (in other words, cost of goods sold before adjusting for any underapplied or overapplied overhead) for June is closest to:

A)$222,000
B)$212,000
C)$215,000
D)$216,000

Question 45

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

A)$205,000
B)$208,000
C)$203,000
D)$200,000

Question 46

Lietz Corporation has provided the following data concerning manufacturing overhead for January: The company's Cost of Goods Sold was $369,000 prior to adjusting for any underapplied or overapplied overhead. Which of the following statements is true?

A)Manufacturing overhead was underapplied by $23,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $392,000
B)Manufacturing overhead was underapplied by $23,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $346,000
C)Manufacturing overhead was overapplied by $23,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $346,000
D)Manufacturing overhead was overapplied by $23,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $392,000

Question 47

Heiny Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at the end of the month. In March, the company completed job G59N that consisted of 21,000 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job G59N shows that the job's total cost was $940,800. During the month, the actual manufacturing overhead cost incurred was $269,640 and the manufacturing overhead cost applied was $249,900. And during the month, 6,000 completed units from job G59N were sold. No other products were sold during the month. The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for March is closest to:

A)$871,500
B)$274,440
C)$940,800
D)$268,800

Question 48

Araiza 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. In May the company completed job Y42V that consisted of 14,000 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job Y42V shows the following costs: During the month, the actual manufacturing overhead cost incurred was $255,220 and 1,000 completed units from job Y42V were sold. No other products were sold. The cost of goods sold that would appear on the income statement for May is closest to:

A)$75,120
B)$771,400
C)$791,420
D)$35,080

Question 49

Gest Inc. has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $49,000 and at the end of the month was $45,000. The cost of goods manufactured for the month was $226,000. The actual manufacturing overhead cost incurred was $74,000 and the manufacturing overhead cost applied to jobs was $70,000. The adjusted cost of goods sold that would appear on the income statement for November is:

A)$226,000
B)$230,000
C)$222,000
D)$234,000

Question 50

The actual manufacturing overhead incurred at Hogans Corporation during April was $59,000, while the manufacturing overhead applied to jobs was $74,000. The company's Cost of Goods Sold was $289,000 prior to adjusting for any underapplied or overapplied overhead. Which of the following statements is true?

A)Manufacturing overhead was overapplied by $15,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $274,000
B)Manufacturing overhead was underapplied by $15,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $274,000
C)Manufacturing overhead was overapplied by $15,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $304,000
D)Manufacturing overhead was underapplied by $15,000; Cost of Goods Sold after adjusting for any underapplied or overapplied overhead is $304,000

Question 51

Burghardt 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 January was $249,000 and its beginning and ending inventories were: During the month, the manufacturing overhead cost incurred was $79,000 and the manufacturing overhead cost applied was $80,000. The cost of goods sold that appears on the income statement for January and that has been adjusted for any underapplied or overapplied overhead is closest to:

A)$249,000
B)$259,000
C)$238,000
D)$261,000

Question 52

Watwood 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 June was $230,000; its beginning finished goods inventory was $34,000; its ending finished goods inventory was $52,000; its manufacturing overhead was underapplied by $1,000. The cost of goods sold that appears on the income statement for June and that has been adjusted for any underapplied or overapplied overhead is closest to:

A)$248,000
B)$211,000
C)$213,000
D)$230,000

Question 53

Pinnini Co. uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, Pinnini Company incurred $225,000 in actual manufacturing overhead cost. Overhead was overapplied $14,500 for the year. If the predetermined overhead rate was $5.00 per direct labor-hour, how many hours did the company work during the year?

A)45,000 hours
B)47,900 hours
C)42,100 hours
D)44,000 hours

Question 54

Currey Inc., which uses job-order costing, has provided the following data for August: $$\begin{array} { l r r } \text { Inventories: } & \text { Beginning } & \text { Ending } \\\text { Work in process ..... } & \$ 19,000 & \$ 21,000 \\\text { Finished goods ...... } & \$ 25,000 & \$ 50,000\end{array}$$ The unadjusted cost of goods sold (in other words, cost of goods sold before adjusting for any underapplied or overapplied overhead) for August is closest to:

A)$212,000
B)$210,000
C)$185,000
D)$182,000

Question 55

Pacey Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at the end of the month. In April, the company completed job X69V that consisted of 11,000 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job X69V shows the following costs: During the month, the actual manufacturing overhead cost incurred was $127,270 and 10,000 completed units from job X69V were sold. No other products were sold during the month. The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for April is closest to:

A)$609,000
B)$634,700
C)$669,900
D)$606,700

Question 56

Mallette 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 May: The cost of goods sold that appears on the income statement for May and that has been adjusted for any underapplied or overapplied overhead is closest to:

A)$220,000
B)$227,000
C)$222,000
D)$221,000

Question 57

Elwood 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. In February the company completed job D68R that consisted of 16,000 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job D68R shows that the total cost for the job was $916,800. During the month, the actual manufacturing overhead cost incurred was $224,480 and the manufacturing overhead cost applied to job D68R was $243,200. And during the month, 10,000 completed units from job D68R were sold. No other products were sold. The cost of goods sold that would appear on the income statement for February is closest to:

A)$916,800
B)$898,100
C)$554,280
D)$591,720

Question 58

Desrevisseau Inc., a manufacturing company, has provided the following data for the month of August. The balance in the Work in Process inventory account was $10,000 at the beginning of the month and $22,000 at the end of the month. During the month, the company incurred direct materials cost of $63,000 and direct labor cost of $39,000. The actual manufacturing overhead cost incurred was $40,000. The manufacturing overhead cost applied to jobs was $43,000. The cost of goods manufactured for August was:

A)$133,000
B)$142,000
C)$145,000
D)$130,000

Question 59

Galbraith Company applies overhead cost to jobs on the basis of 70% of direct labor cost. If Job 201 shows $28,000 of manufacturing overhead applied, the direct labor cost on the job was:

A)$40,000
B)$19,600
C)$28,000
D)$36,400

Question 60

Paskey Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at the end of the month. In July the company completed job C77T that consisted of 12,000 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job C77T shows that the job's total cost was $771,600. During the month, 10,000 completed units from job C77T were sold. No other products were sold during the month. The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for July is closest to:

A)$771,600
B)$643,000
C)$643,900
D)$734,400

Question 61

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

A)5,870
B)5,500
C)6,081
D)5,660

Question 62

The unit product cost for job J75C is closest to:

A)$152.71
B)$52.10
C)$148.86
D)$38.40

Question 63

The applied manufacturing overhead for the year was closest to:

A)$74,160
B)$71,184
C)$75,840
D)$79,008

Question 64

The applied manufacturing overhead for the year was closest to:

A)$135,850
B)$149,218
C)$143,869
D)$139,802

Question 65

The cost of goods sold that would appear on the income statement for November, after adjustment for any underapplied or overapplied overhead, is closest to:

A)$1,042,020
B)$337,700
C)$1,068,970
D)$391,700

Question 66

Under Lamprey Company's job-order costing system, manufacturing overhead is applied to jobs using a predetermined overhead rate. During January, Lamprey's transactions included the following: Lamprey Company had no beginning or ending inventories. What was the cost of goods manufactured for January?

A)$302,000
B)$310,000
C)$322,000
D)$330,000

Question 67

The applied manufacturing overhead for the year is closest to:

A)$357,979
B)$360,547
C)$359,520
D)$362,088

Question 68

The cost of goods manufactured for May was:

A)$78,500
B)$78,100
C)$77,150
D)$74,822

Question 69

The overhead for the year was:

A)$5,198 overapplied
B)$3,952 underapplied
C)$3,952 overapplied
D)$5,198 underapplied

Question 70

The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for September is closest to:

A)$1,207,200
B)$855,100
C)$861,900
D)$1,113,600

Question 71

The overhead for the year was:

A)$1,520 underapplied
B)$2,520 overapplied
C)$1,520 overapplied
D)$2,520 underapplied

Question 72

The predetermined overhead rate is closest to:

A)$42.30
B)$41.82
C)$42.12
D)$42.00

Question 73

The amount of direct materials cost in the May 30 work in process inventory account was:

A)$5,680
B)$19,900
C)$8,400
D)$11,500

Question 74

The predetermined overhead rate for the year was closest to:

A)$29.66
B)$32.92
C)$31.60
D)$30.90

Question 75

The overhead for the year was:

A)$3,090 overapplied
B)$4,840 underapplied
C)$4,840 overapplied
D)$3,090 underapplied

Question 76

The cost of goods sold that would appear on the income statement for September, after adjustment for any underapplied or overapplied overhead, is closest to:

A)$864,700
B)$1,207,170
C)$845,500
D)$1,216,860

Question 77

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

A)$231,000
B)$222,000
C)$223,000
D)$232,000

Question 78

The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for November is closest to:

A)$364,700
B)$1,042,000
C)$374,150
D)$1,002,000

Question 79

The cost of goods sold that would appear on the income statement for May, after adjustment for any underapplied or overapplied overhead, is closest to:

A)$1,708,200
B)$1,698,300
C)$601,180
D)$581,420

Question 80

The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for May is closest to:

A)$587,880
B)$1,645,800
C)$1,708,200
D)$591,300