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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## This note was uploaded on 04/14/2009 for the course ACC 230 taught by Professor Jones during the Spring '08 term at Illinois State.

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

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