16e_GNB_CH03_TB-final.docx

Aicpa bb critical thinking aicpa fn measurement

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AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 34. Refer to the T-account below: Manufacturing Overhead (2) 9,000 (12) 167,000 (3) 15,000 (4) 80,000 (5) 30,000 (6) 25,000 159,000 167,000 Bal. 8,000 The ending balance of $8,000 represents which of the following? A) Underapplied overhead. B) Manufacturing overhead that will be carried over to the next period. C) Overapplied overhead. D) A bookkeeping error. Answer: C Difficulty: 1 Easy Learning Objective: 03-02 Topic Area: Blooms: Understand AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 35. Refer to the T-account below: Raw Materials Bal. 15,000 (9) 75,000 (5) 85,000 Bal. 25,000 Entry (5) could represent which of the following? A) Payments for raw materials. B) Requisitions of raw materials to be used in production. C) Purchases of raw materials. D) Overhead cost applied to Work in Process. Answer: C Difficulty: 2 Medium Learning Objective: 03-02 Topic Area: Blooms: Understand AACSB: Reflective Thinking
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AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 36. Refer to the T-account below: Prepaid Insurance Bal. 30,000 (8) 9,000 Entry (8) could represent which of the following? A) Payment of insurance for the upcoming period. B) Insurance cost incurred on the factory which is added to the Manufacturing Overhead account. C) Overhead cost applied to Work in Process. D) Overhead cost applied to Finished Goods. Answer: B Difficulty: 2 Medium Learning Objective: 03-02 Topic Area: Blooms: Understand AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 37. When manufacturing overhead is applied to production, it is added to: A) the Cost of Goods Sold account. B) the Raw Materials account. C) the Work in Process account. D) the Finished Goods inventory account. Answer: C Difficulty: 1 Easy Learning Objective: 03-02 Topic Area: Blooms: Remember AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 38. Under a job-order costing system, the dollar amount transferred from Work in Process to Finished Goods is the sum of the costs charged to all jobs: A) started in process during the period. B) in process during the period. C) completed and sold during the period. D) completed during the period. Answer: D Difficulty: 2 Medium Learning Objective: 03-02 Topic Area: Blooms: Understand AACSB: Reflective Thinking
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AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 39. Refer to the T-account below: Manufacturing Overhead (2) 4,000 (9) 150,000 (3) 15,000 (4) 80,000 (5) 30,000 (6) 25,000 154,000 150,000 Bal. 4,000 Entry (4) could represent which of the following except ? A) Indirect labor cost incurred. B) Factory insurance cost. C) Overhead cost applied to Work in Process. D) Depreciation on factory equipment. Answer: C Difficulty: 1 Easy Learning Objective: 03-02 Topic Area: Blooms: Understand AACSB: Reflective Thinking AICPA: BB Critical Thinking AICPA: FN Measurement Feedback: [QUESTION] 40. Refer to the T-account below: Work In Process Bal. 30,000 (12) 270,000 (4) 90,000 (6) 70,000 (9) 110,000 Bal. 30,000 Entry (12) could represent which of the following?
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