Reference no: EM132749599
Questions -
Q1. Selected accounts with some amounts omitted are as follows
Work in Process
Work in Process Oct. 1 Balance 22,800
Oct. 31 Finished goods X 31 Direct materials 90,600 31 Direct labor 150,700 31 Factory overhead X
Finished Goods
Oct. 1 Balance 14,800 31 Goods finished 326,100
If the balance of Work in Process on October 31 is $191,700, what was the amount of factory overhead applied in October?
a. $90,600
b. $253,700
c. $150,700
d. $365,200
Q2. Compute conversion costs given the following data: direct materials, $379,100; direct labor, $204,600; factory overhead, $192,800 and selling expenses, $43,000.
a. $776,500
b. $571,900
c. $149,800
d. $397,400
Q3. A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $334,500 and direct labor hours would be 42,100. Actual manufacturing overhead costs incurred were $311,800, and actual direct labor hours were 54,600. What is the predetermined overhead rate per direct labor hour?
a. $11.92
b. $7.95
c. $9.53
d. $6.36
Q4. Cavy Company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 40,000 hours. The machine hours for the month of April for all of the jobs were 4,780. If the actual factory overhead totaled $141,800, determine the over- or underapplied amount for the month.
a. $7,575 underapplied
b. $7,575 overapplied
c. $35,220 overapplied
d. $35,220 under-applied
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