121 perry moldings has the following estimated costs for the upcoming year direct la 4310467
121) Perry Moldings has the following estimated costs for the upcoming year:
|
Direct labor costs |
$ 62,000 |
|
Direct materials used |
$ 25,000 |
|
Salary of factory supervisor |
$ 39,000 |
|
Sales commissions |
$ 8,000 |
|
Heating and lighting costs for factory |
$ 22,000 |
|
Depreciation on factory equipment |
$ 5,000 |
|
Advertising expense |
$ 33,000 |
The company estimates that 1,200 direct labor hours will be worked in the upcoming year, while 2,000 machine hours will be used during the year. The predetermined manufacturing overhead rate per direct labor hour is closest to
A) $162.
B) $55.
C) $50.
D) $89.
122) To follow is selected financial data from Turtle Bay Manufacturing for the most recent year.
|
Ending raw materials inventory |
$ 21,000 |
|
Ending work in process inventory |
$ 44,200 |
|
Ending finished goods inventory |
$ 53,200 |
|
Amount of underallocated manufacturing overhead |
$ 5,100 |
|
Cost of goods sold for year |
$ 85,000 |
|
Cost of raw materials purchased during year |
$ 45,300 |
|
Cost of direct materials requisitioned during year |
$ 43,800 |
|
Cost of indirect materials requisitioned during year |
$ 7,200 |
|
Cost of goods completed during year |
$ 120,000 |
|
Manufacturing overhead allocated |
$ 60,000 |
|
Manufacturing overhead % of direct labor cost |
120% |
What is the beginning raw materials inventory?
A) $19,500
B) $ 5,700
C) $26,700
D) $72,000
123) To follow is selected financial data from Turtle Bay Manufacturing for the most recent year.
|
Ending raw materials inventory |
$ 21,000 |
|
Ending work in process inventory |
$ 44,200 |
|
Ending finished goods inventory |
$ 53,200 |
|
Amount of underallocated manufacturing overhead |
$ 5,100 |
|
Cost of goods sold for year |
$ 85,000 |
|
Cost of raw materials purchased during year |
$ 45,300 |
|
Cost of direct materials requisitioned during year |
$ 43,800 |
|
Cost of indirect materials requisitioned during year |
$ 7,200 |
|
Cost of goods completed during year |
$ 120,000 |
|
Manufacturing overhead allocated |
$ 60,000 |
|
Manufacturing overhead % of direct labor cost |
120% |
What is the beginning work in process inventory?
A) $10,400
B) $65,500
C) $32,200
D) $60,400
124) To follow is selected financial data from Turtle Bay Manufacturing for the most recent year.
|
Ending raw materials inventory |
$ 21,000 |
|
Ending work in process inventory |
$ 44,200 |
|
Ending finished goods inventory |
$ 53,200 |
|
Amount of underallocated manufacturing overhead |
$ 5,100 |
|
Cost of goods sold for year |
$ 85,000 |
|
Cost of raw materials purchased during year |
$ 45,300 |
|
Cost of direct materials requisitioned during year |
$ 43,800 |
|
Cost of indirect materials requisitioned during year |
$ 7,200 |
|
Cost of goods completed during year |
$ 120,000 |
|
Manufacturing overhead allocated |
$ 60,000 |
|
Manufacturing overhead % of direct labor cost |
120% |
What is the beginning finished goods inventory?
A) $138,200
B) $18,200
C) $78,200
D) $(2,800)
125) To follow is selected financial data from Turtle Bay Manufacturing for the most recent year.
|
Ending raw materials inventory |
$ 21,000 |
|
Ending work in process inventory |
$ 44,200 |
|
Ending finished goods inventory |
$ 53,200 |
|
Amount of underallocated manufacturing overhead |
$ 5,100 |
|
Cost of goods sold for year |
$ 85,000 |
|
Cost of raw materials purchased during year |
$ 45,300 |
|
Cost of direct materials requisitioned during year |
$ 43,800 |
|
Cost of indirect materials requisitioned during year |
$ 7,200 |
|
Cost of goods completed during year |
$ 120,000 |
|
Manufacturing overhead allocated |
$ 60,000 |
|
Manufacturing overhead % of direct labor cost |
120% |
What is the actual manufacturing overhead?
A) $65,100
B) $54,900
C) $ 5,100
D) $60,000
126) Federer Company is debating the use of direct labor cost or direct labor hours as the cost allocation base for allocating manufacturing overhead. The following information is available for the most recent year:
|
Estimated direct labor cost |
$500,000 |
|
Actual direct labor cost |
$465,000 |
|
Estimated manufacturing overhead costs |
$425,000 |
|
Actual manufacturing overhead costs |
$350,000 |
|
Estimated direct labor hours |
250,000 |
|
Actual direct labor hours |
232,000 |
If Federer Company uses direct labor cost as the allocation base, what would the predetermined manufacturing overhead rate be?
A) 70%
B) 75%
C) 91%
D) 85%
127) Federer Company is debating the use of direct labor cost or direct labor hours as the cost allocation base for allocating manufacturing overhead. The following information is available for the most recent year:
|
Estimated direct labor cost |
$500,000 |
|
Actual direct labor cost |
$465,000 |
|
Estimated manufacturing overhead costs |
$425,000 |
|
Actual manufacturing overhead costs |
$350,000 |
|
Estimated direct labor hours |
250,000 |
|
Actual direct labor hours |
232,000 |
If Federer Company uses direct labor hours as the allocation base, what would the predetermined manufacturing overhead rate be?
A) $1.51 per direct labor hour
B) $1.70 per direct labor hour
C) $1.40 per direct labor hour
D) $1.83 per direct labor hour
128) Federer Company is debating the use of direct labor cost or direct labor hours as the cost allocation base for allocating manufacturing overhead. The following information is available for the most recent year:
|
Estimated direct labor cost |
$500,000 |
|
Actual direct labor cost |
$465,000 |
|
Estimated manufacturing overhead costs |
$425,000 |
|
Actual manufacturing overhead costs |
$350,000 |
|
Estimated direct labor hours |
250,000 |
|
Actual direct labor hours |
232,000 |
If Federer Company uses direct labor cost as the allocation base, what would the allocated manufacturing overhead be for the year?
A) $701,509
B) $325,500
C) $395,250
D) $425,000
129) Federer Company is debating the use of direct labor cost or direct labor hours as the cost allocation base for allocating manufacturing overhead. The following information is available for the most recent year:
|
Estimated direct labor cost |
$500,000 |
|
Actual direct labor cost |
$465,000 |
|
Estimated manufacturing overhead costs |
$425,000 |
|
Actual manufacturing overhead costs |
$350,000 |
|
Estimated direct labor hours |
250,000 |
|
Actual direct labor hours |
232,000 |
If Federer Company uses direct labor hours as the allocation base, what would the allocated manufacturing overhead be for the year?
A) $425,000
B) $350,000
C) $394,400
D) $324,800
130) Nadal Company is debating the use of direct labor cost or direct labor hours as the cost allocation base for allocating manufacturing overhead. The following information is available for the most recent year:
|
Actual direct labor hours |
232,000 |
|
Estimated direct labor hours |
250,000 |
|
Actual manufacturing overhead costs |
$350,000 |
|
Estimated manufacturing overhead costs |
$400,000 |
|
Actual direct labor cost |
$465,000 |
|
Estimated direct labor cost |
$500,000 |
If Nadal Company uses direct labor cost as the allocation base, what would the predetermined manufacturing overhead rate be?
A) 80%
B) 70%
C) 75%
D
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