Chap 4 Practice Quiz

Chap 4 Practice Quiz - Accounting 230 Chapter 4 Practice...

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Chapter 4 Practice Quiz 1. The following information applies to Jamie Company for the current year. Estimated overhead cost is $400,000; estimated direct labor hours are 100,000; actual overhead cost incurred is $370,000; actual direct labor hours worked are 90,000. If overhead is applied on the basis of direct labor hours, the over or underapplied overhead for the year would be: A. $30,000 underapplied B. $10,000 overapplied C. $30,000 overapplied D. $10,000 underapplied E. None of the above 2. Elliott Company manufactures tools to customer specifications. The following data pertain to Job 1501 for July 200X: Direct materials used $4,200 Direct labor hours worked 300 Direct labor rate per hour $ 8.00 Machine hours used 200 Applied factory overhead rate per machine hour $15.00 What is the total manufacturing cost recorded on Job 1501 for July 200X? A. $ 8,800 B. $11,100 C. $10,300 D. $ 9,600 3. All of the following items are debited to the Work-In-Process account EXCEPT? A. allocated manufacturing overhead
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Chap 4 Practice Quiz - Accounting 230 Chapter 4 Practice...

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