The thomlin company forecasts that total overhead for

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34.The Thomlin Company forecasts that total overhead for the current year will be $15,000,000 andthat total machine hours will be 200,000 hours year to date, actual overhead rate is $15,500,000and actual machine hours are 220,000 hours. If Thomlin Company uses a predeterminedoverhead rate based on machine hours for applying overhead, what is the overhead rate?a.$71 per machine hourb.$78 per machine hourc.$68 per machine hourd.$75 per machine hourPredetermined FOH rate =$15,000,000= $75/ hour200,000 hours
35.Which of the following would most likely be a period cost?
36.In a job order cost accounting system, the entry to record the flow of direct materials intoproduction is:
37.Selected accounts with some debits and credits omitted are presented as follows:38.Work in Process39.Aug. 1Balance275,00040.Aug. 31Goods41.31Direct42.finished1,030,000
43.materialsX44.45.31Direct46.47.labor450,00048.49.31Factory50.51.overheadX52.53.54.Factory Overhead55.Aug. 1-31 Costs56.Aug. 1Balance15,00057.incurred145,00058.31Applied59.60.(30% of direct61.62.labor cost)X63.64.65.66.If the balance of Work in Process at August 31 is $200,000, what was the amount debited toWork in Process for direct materials in August?
67.If the amount of factory overhead costs incurred exceeds the amount applied, the factoryoverhead account will have a:a.Debit balance and be underappliedb.Credit balance and be overappliedc.Credit balance and be underappliedd.Debit balance and be overappliedActual – Applied = (+) DebitUnderapplied
68.The recording of jobs completed would include a debit to:
c.Work in processd.Cost of goods sold69.When job 711 was completed, direct materials totaled $4,000; direct labor, $4,600; and factoryoverhead, $2,400, respectively.Units produced totaled 1,000.Unit costs are:
70.The cost system best suited to industries that manufacture a large number of identical units ofcommodities on a continuous basis is:

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Term
Winter
Professor
MichaelKara

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