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Bakker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning ofthe most recent year, the company based its predetermined overhead rate on total estimated overhead of$103,250 and 3,500 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to$101,550 and actual direct labor-hours were 3,400.The overhead for the year was:$97,350 overapplied$1,250 underapplied$1,250 overapplied$97,350 underappliedReferencesReferencesMultipleMultipleChoiceChoiceDiﬃculty: EasyLearning Objective: 04-04 Computeunderapplied or overapplied overheadcost.Mateus Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed tocost of goods sold at the end of the month. In September the company completed job X86V that consistedof 25,000 units of one of the company's standard products. No other jobs were in process during the month.The total manufacturing cost for job X86V according to its job cost sheet was $1,232,500. During the month,the actual manufacturing overhead cost incurred was $286,700 and the manufacturing overhead appliedwas $276,900. And during the month, 18,000 completed units from job X86V were sold. No other productswere sold during the month.The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for anyunderapplied or overapplied overhead) for September is closest to:
50.Award: 1.00 point1.00 point51.Award: 1.00 point1.00 pointReferencesReferencesMultipleMultipleChoiceChoiceDiﬃculty: MediumLearning Objective: 04-05 Use the directmethod to determine cost of goods sold.Vanwagenen Inc. has provided the following data for the month of April:Inventors:BeginningEndingWork in process$23,200 $30,000 Finished goods$49,400 $46,000 Additional information:Direct materials$79,000 Direct labor cost$140,000 Manufacturing overhead cost incurred$96,400 Manufacturing overhead cost applied to work in process$80,000 The cost of goods manufactured for April is:ReferencesReferencesMultipleMultipleChoiceChoiceDiﬃculty: MediumLearning Objective: 04-06 Use theindirect method to determine cost ofgoods sold.
52.Award: 1.00 point1.00 pointLambson Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closedto cost of goods sold at the end of the month. In January the company completed job Z65N that consisted of32,000 units of one of the company's standard products. No other jobs were in process during the month.The total manufacturing cost on job Z65N's job cost sheet was $1,974,400. The manufacturing overhead forthe month was underapplied by $15,800. During the month, 22,000 completed units from job Z65N weresold. No other products were sold during the month.The unit product cost for job Z65N is closest to:ReferencesReferencesMultipleMultipleChoiceChoiceDiﬃculty: EasyLearning Objective: 04-05 Use the directmethod to determine cost of goods sold.There are two acceptable methods for closing out any balance of underapplied or overappliedoverhead. One method involves allocation, whereas the other closes any balance directly to: