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Question 1
1.

The journal entry required to record factory depreciation includes: A debit to the Cost of Goods Manufactured account. A debit to the Factory Overhead account. A debit to the Depreciation Expense account. A debit to the Accumulated Depreciation account. None of the above.
1 points

Question 2
1.

The total cost of direct materials, direct labor, and factory overhead transferred from the Workin-Process Inventory account to the Finished Goods Inventory account during an accounting period is: Normal cost of goods sold. Adjusted cost of goods sold. Total manufacturing cost. Cost of goods manufactured. Actual cost of goods sold.
1 points

Question 3
1.

The two main advantages of using predetermined factory overhead rates are to provide more accurate unit cost information and to: Simplify the accounting process. Provide cost information on a timely basis. Insure transmission of correct data. Extend the useful life of the cost data. Adjust for variances in data sources.
1 points

Question 4
1.

Volume-based cost accounting systems often do a poor job of product costing because they: Use only volume-based cost drivers. Fail to recognize the impact of overhead in product cost. Often do not reflect changes in major cost categories caused by plant automation. Too often use an allocation base that does not have a cause-effect relationship to resource

usage. Product costs involve both fixed and variable costs

1 points

Question 5
1.

Which one of the following documents records and summarizes the costs of direct materials, direct labor, and factory overhead for a particular job? Purchase order. Material requisition form. Job product cost document. Bill of materials. Job cost sheet.
1 points

Question 6
1.

Beckner Inc. is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 133,000 and estimated factory overhead is $784,700. The following information is for September. Job X was completed during September, while Job Y was started but not finished.

The total ending work-in-process for September is: $68,000 $101,000 $133,450 $157,300 $53,400
2 points

Question 7
1.

Beckner Inc. is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 133,000 and estimated factory overhead is $784,700. The following information is for September. Job X was completed during September, while Job Y was started but not finished.

The total factory overhead applied during September is: $79,300. $57,572. $73,750. $68,120. $51,710.
2 points

Question 8
1.

Beckner Inc. is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 133,000 and estimated factory overhead is $784,700. The following information is for September. Job X was completed during September, while Job Y was started but not finished.

The underapplied or overapplied overhead for September is: $2,350 underapplied. $2,350 overapplied. $950 overapplied. $950 underapplied. $1,450 underapplied.
2 points

Question 9
1.

Beckner Inc. is a job-order manufacturer. The company uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 133,000 and estimated factory overhead is $784,700. The following information is for September. Job X was completed during September, while Job Y was started but not finished.

Cost of goods manufactured for September is: $105,600

$157,300 $169,400 $145,500 $210,700