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sample midterm acc solution

# sample midterm acc solution - Answers to Sample Mid Term...

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Answers to Sample Mid Term Exam Part I Answers 2 marks per question 1 A 2 D 3 D 4 C 5 A 6 A 7 C 8 D 9 D 10 B 11 B 12 A 13 A 14 D 15 B 16 C 17 B 18 B 19 C 20 B 21 B 22 D 23 C 24 D 25 B 26 B 27 B 28 D 29 B 30 D 31 C 32 C

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Part 2 Question 1: MARKS (a.) Department A predetermined overhead rate: Estimated overhead cost/Estimated machine-hours = \$420,000/70,000 = \$6.00 2 Department B predetermined overhead rate: stimated overhead cost/Estimated direct materials cost = \$705,000/\$282,000 = 250% of direct materials cost 2 (b.) Overhead applied to Job 243: Department A: 250 x \$6.00 =\$1,500 1 Department B: \$1,100 x 2.5 =\$2,750 1 \$4,250 ====== (c.) Department B Manufacturing overhead incurred \$705,000 1 Manufacturing overhead applied: \$284,000 X 250% = 710,000 1 overapplied overhead \$ (5,000) 1 ====== 9
Question 2: a.) Total overhead cost at 80,000 machine hours \$262,400 Less: Utilities (\$54,000 ÷ 50,000) x 80,000 86,400 Supervisory salaries (fixed) 62,000 Portion of overhead for June that represents maintenance

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sample midterm acc solution - Answers to Sample Mid Term...

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