Problem questions - Question 1 The accounting records of...

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Question 1 3 points The accounting records of Bronco Company revealed the following information: Bronco's cost of goods manufactured is: a. $519,000. b. $522,000. c. $568,000. d. $571,000. e. some other amount. Question 2 3 points Dale Company, which applies overhead at the rate of 190% of direct labor cost, began work on job no. 101 during June. The job was completed in July and sold during August, having accumulated direct material and labor charges of $27,000 and $15,000, respectively. On the basis of this information, the total overhead applied to job no. 101 amounted to: a. $70,500. b. $51,300. c. $79,800. d. $28,500. e. $0. Question 3 3 points Maher, Inc., applies manufacturing overhead at the rate of $60 per machine hour. Budgeted machine hours for the current period were anticipated to be 80,000; however, a lengthy strike resulted in actual machine hours being worked of only 65,000. Budgeted and actual manufacturing overhead figures for the year were $4,800,000 and $4,180,000, respectively. On the basis of this information, the company's year-end overhead was: a. underapplied by $900,000. b. underapplied by $620,000. c. underapplied by $280,000. d. overapplied by $280,000. e. overapplied by $620,000. Question 4 3 points (Extra credit) Copley uses a weighted-average process-costing system. All materials are added at the beginning of the process; conversion costs are incurred evenly
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throughout production. The company finished 40,000 units during the period and had 15,000 units in progress at year-end, the latter at the 40% stage of completion. Total material costs amounted to $220,000; conversion costs were $414,000. The cost of the ending work in process is: a. $54,000. b. $78,000. c. $114,000. d. $195,000. e. some other amount. Question 5 3 points Ohio, Inc., which uses a process-cost accounting system, began operations on January 1 of the current year. The company incurs conversion cost evenly throughout manufacturing. If Ohio started work on 3,000 units during the period and these units were 70% of the way through manufacturing, it would be correct to say
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This note was uploaded on 02/12/2012 for the course ACCOUNTING 2031 taught by Professor Brown during the Spring '11 term at Boston Architectural.

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Problem questions - Question 1 The accounting records of...

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