2010-05-02_201844_Dmacchiofinalcost

2010-05-02_201844_Dmacchiofinalcost - 1 Urban Company...

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1. Urban Company manufacturers tables. If raw material used was \$80,000 and Raw Material Inventory at the beginning and end of the period, respectively, was \$17,000 and \$21,000, what was amount of raw material was purchased? (Points: 4) \$76,000 \$118,000 \$84,000 \$101,000 2. Gary Corporation has developed the following flexible budget formula for monthly overhead: For output of less than 200,000 units: \$36,600 + \$.80(units) For output of 200,000 units or more: \$43,000 + \$.80(units) How much overhead should Gary expect if the firm plans to produce 200,000 units? (Points: 4) \$52,600 \$59,000 \$196,600 \$203,000 3. At its present level of operations, a small manufacturing firm has total variable costs equal to 75 percent of sales and total fixed costs equal to 15 percent of sales. Based on variable costing, if sales change by \$1.00, income will change by _______. (Points: 4) \$0.25 \$0.10 \$0.75 can't be determined from the information given 4. Long Company transferred 5,500 units to Finished Goods Inventory during September. On September 1, the company had 300 units on hand (40 percent complete as to both material and conversion costs). On June 30, the company had 800 units (10 percent complete as to material and 20 percent complete as to conversion costs). The number of units started and completed during September was _______. (Points: 4) 5,200

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5,380 5,500 6,300 5. Green Company started 9,000 units in February. The company transferred out 7,000 finished units and ended the period with 3,500 units that were 40 percent complete as to both material and conversion costs. Beginning Work in Process Inventory units were _______. (Points: 4) 500 600 1,500 2,000 6. Dixie Company uses a weighted average process costing system. Material is added at the start of production. Dixie Company started 13,000 units into production and had 4,500 units in process at the start of the period that were 60 percent complete as to conversion costs. If Dixie transferred out 11,750 units, how many units were in ending Work in Process Inventory? (Points: 4) 1,250 3,000 3,500 5,750 7. Actual fixed overhead is \$33,300 (12,000 machine hours) and fixed overhead was estimated at \$34,000 when the predetermined rate of \$3.00 per machine hour was set. If 11,500 standard hours were allowed for actual production, applied fixed overhead is _______. (Points: 4) \$33,300 \$34,000 \$34,500 not determinable without knowing the actual number of units produced 8. One unit requires 2 direct labor hours to produce. Standard variable overhead per unit is \$1.25 and standard fixed overhead per unit is \$1.75. If 330 units were produced this month, what total amount of overhead is applied to the units produced? (Points: 4) \$990
\$1,980 \$660 cannot be determined without knowing the actual hours worked 9. Western Company uses a standard cost accounting system. The following overhead costs and production data are available for August: Standard fixed OH rate per DLH \$1 Standard variable OH rate per DLH \$4 Budgeted monthly DLHs

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2010-05-02_201844_Dmacchiofinalcost - 1 Urban Company...

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