Ch2-MC.pdf - Score 1 10/10 Points 100 Award 1 out of 1.00...

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1. Award: 1 out of 1.00 point 2. Award: 1 out of 1.00 point Score: 10/10 Points 100 % In a job-order costing system, the use of indirect materials that have been previously purchased is recorded as a credit to: Work in Process inventory. Manufacturing Overhead. Raw Materials inventory. Finished Goods inventory. What journal entry is made in a job-order costing system when $8,000 of materials are requisitioned for general factory use instead of for use in a particular job? Work in Process $8,000 Manufacturing Overhead $8,000 Work in Process $8,000 Raw Materials $8,000 Manufacturing Overhead $8,000 Work in Process $8,000 Manufacturing Overhead $8,000 Raw Materials $8,000
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3. Award: 1 out of 1.00 point 4. Award: 1 out of 1.00 point Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 57,000 actual direct labor-hours and incurred $345,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 55,000 direct labor-hours during the year and incur $330,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was: overapplied by $15,000 underapplied by $15,000 overapplied by $3,000 underapplied by $3,000 Predetermined overhead rate = Estimated total manufacturing overhead cost ÷ Estimated total amount of the allocation base = $330,000 ÷ 55,000 direct labor-hours = $6 per direct labor-hour Overhead over or underapplied Actual manufacturing overhead incurred $345,000 Manufacturing overhead applied to Work in Process: Predetermined overhead rate (a) $6 per direct labor-hour Actual total amount of the allocation base (b) 57,000 direct labor-hours Manufacturing overhead applied (a) × (b) $342,000 Underapplied (overapplied) manufacturing overhead $3,000 The direct labor rate for Brent Corporation is $9.00 per hour, and manufacturing overhead is applied to products
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