Reference no: EM132591077
Budget Actual
Direct Labour Costs $360,000 $420,000
Direct Labour Hours 25,000 26,500
Overhead Costs $600,000 $693,000
Beginning Ending Work in Progress $ 14,000 $ 20,000
Finished Goods $ 31,000 $ 35,000
Materials $ 10,000 $ 0
- Overhead is allocated on Direct Labour costs.
- Materials Purchased during the year were $208,000. All materials are Direct Materials.
Question 1. The amount of Materials applied to WIP is closest to:
A. 198,000
B. 208,000
C. 218,000
D. 228,000
Question 2. The amount of overhead applied to WIP is closest to:
A. 600,000
B. 633,333
C. 636,000
D. 693,000
E. 700,000
Question 3. Cost of Goods Manufactured is closest to:
A. 1,232,000
B. 1,258,000
C. 1,268,000
D. 1,328,000
E. 1,332,000
Question 4. Cost ofGoods Sold (before any under/over applied overhead adjustment) is closest to:
A. 1,232,000
B. 1,258,000
C. 1,268,000
D. 1,328,000
E. 1,332,000
Question 5. The amount of under/over applied Manufacturing Overhead is closest to:
A. 4,000 over applied
B. 7,000 over applied
C. 7,000 under applied
D. 93,000 over applied
E. 93,000 under applied
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