Multiple Choice Quiz_Chapter6 - MultipleChoiceQuiz...

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Multiple Choice Quiz (See related pages) 1 Which of the following manufacturing costs are allocated to products  indirectly using an allocation base? A) Direct materials B) Direct labor C) Overhead D) All of the above E) 2 The Consul Company incurred the following costs to produce 5,000  desks in February: direct materials, $20,000; direct labor, $30,000; and  manufacturing overhead, $25,000. What was the cost assigned to each  desk produced? A) $10.00 B) $15.00 C) $20.00 D) $25.00 E) None of the above 3 In 2006, Mayfair Corporation had a beginning inventory in Work-in- Process of $42,000. During 2006, Mayfair incurred the following  manufacturing costs: direct materials, $120,000; direct labor, $140,000;  and overhead, $100,000. Mayfair's ending Work-in-Process inventory  was $27,000. The cost transferred to Finished Goods was: A) $360,000 B) $375,000 C) $385,000 D) $390,000
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E) None of the above 4 Flow Company had no beginning work-in-process inventory. The  company started 300,000 units this period and had 60,000 units in  ending work-in-process inventory that were 40% complete. How many  units were transferred out of work-in-process this period? A) 240,000 B) 254,000 C) 264,000 D) 276,000 E) None of the above 5 Mammoth Corporation uses direct labor hours to allocate overhead to  work-in-process. The company's budgeted overhead is $420,000 and it  expects to produce 40,000 ceramic elephants next period. It takes 2  direct labor hours to produce one elephant. If Mammoth actually works  60,000 direct labor hours, how much overhead should be assigned to  work-in-process? A)
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This note was uploaded on 04/10/2010 for the course HOA SEN 1234 taught by Professor Vananh during the Spring '10 term at Haaga - Helia University of Applied Sciences.

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Multiple Choice Quiz_Chapter6 - MultipleChoiceQuiz...

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