Reference no: EM131646379

Q1. Colorado Industries reported the following year and information:

Beginning work in process inventory   25000

Beginning raw materials inventory 9000

Ending work-in-process inventory 28000

Ending raw materials inventory 6000

Raw materials purchased 560000

Direct labor 210000

Manufacturing overhead 120000

How much is Colorado's total cost of work-in-process for the year?

A. 893000

B. 890000

C. 918000

D. 915000

Q2. Sharon company reported the following year-end information:

Beginning work-in-process inventory 1080000

Beginning raw materials inventory 300000

Ending work-in-process inventory  900000

Ending raw materials inventory $480000

Raw materials purchased 950000

Direct labor 850000

Manufacturing overhead $820,000

A. 2620000

B. 2440000

C. 2260000

D. 2800000

Q3. During 2017 swifty Corporation expected job number 59 to cost $200,000 of overhead, $410,000 of materials, and $100,000 in labor. Swifty applied overhead based on direct labor cost. Actual production required in overhead cost of $195,000, $480,000 in materials used, and $130,000 in labor. All the goods were completed. How much is the amount of over or underapplied overhead?

Q4. During 2017 swifty Corporation expected job number 26 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Swifty applied overhead based on direct labor cost. Actual production required in overhead cost of $340,000, $590,000 in materials used, and $230,000 in labor. All the goods were completed. What amount was transferred to Finished goods?

Q5. Vaughn manufacturing thinks machine hours is the best activity base for its manufacturing overhead. The estimate of annual overhead costs for its job $1950000. The company used 1,000 of processing on job. N. B12 during the period and overhead cost totaling $2000000. The budgeted machine hours for the year totaled 20000. How much overhead should be applied to job number B12?

Q6. For Sunland company, the predetermined overhead rate is 70% of direct labor cost. During the month, $800,000 of factory labor cost are incurred of which $350000 is indirect labor. Actual overhead incurred was $420,000. The amount of overhead debited to Work in Process Inventory should be: