Question 1

The total amount of overhead applied in both departments to Job K928 is closest to:

Accepted Answer

A)  $1,405
B)  $2,000
C)  $810
D)  $595E) All of the above
F) B) and D)

Question 2

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job M is closest to:

Accepted Answer

A)  $10,830
B)  $7,400
C)  $25,730
D)  $7,500E) A) and D)
F) A) and C)

Question 3

The estimated total manufacturing overhead for the Customizing Department is closest to:

Accepted Answer

A)  $63,500
B)  $21,500
C)  $42,000
D)  $33,853E) A) and B)
F) A) and C)

Question 4

If a job is not completed at year end, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used.

Accepted Answer

A) True 
 B)False

Question 5

The total job cost for Job K332 is closest to:

Accepted Answer

A)  $5,775
B)  $6,132
C)  $6,587
D)  $1,267E) All of the above
F) A) and B)

Question 6

If the company marks up its unit product costs by 20% then the selling price for a unit in Job X455 is closest to:

Accepted Answer

A)  $258.32
B)  $190.80
C)  $39.72
D)  $238.32E) A) and D)
F) A) and C)

Question 7

If the company marks up its unit product costs by 40% then the selling price for a unit in Job M598 is closest to:

Accepted Answer

A)  $321.35
B)  $225.05
C)  $86.10
D)  $301.35E) All of the above
F) C) and D)

Question 8

Almaraz Corporation has two manufacturing departments--Forming and Finishing.The company used the following data at the beginning of the year to calculate predetermined overhead rates:  Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.That predetermined manufacturing overhead rate is closest to:

Accepted Answer

A)  $6.62
B)  $4.87
C)  $4.10
D)  $7.10E) A) and C)
F) A) and B)

Question 9

If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to:

Accepted Answer

A)  $363.30
B)  $103.80
C)  $383.30
D)  $324.80E) A) and B)
F) B) and C)

Question 10

Huang Aerospace Corporation manufactures aviation control panels in two departments, Fabrication and Assembly.In the Fabrication department, Huang uses a predetermined overhead rate of $30 per machine-hour.In the Assembly department, Huang uses a predetermined overhead rate of $12 per direct labor-hour.During the current year, Job #X2984 incurred the following number of hours in each department:  What is the total amount of manufacturing overhead that Huang should have applied to Job #X2984 during the current year?

Accepted Answer

A)  $1,200
B)  $1,500
C)  $1,560
D)  $1,734E) A) and B)
F) B) and D)

Question 11

The unit product cost for Job M598 is closest to:

Accepted Answer

A)  $65.25
B)  $160.75
C)  $215.25
D)  $43.05E) B) and C)
F) None of the above

Question 12

The amount of overhead applied in the Assembly Department to Job P131 is closest to:

Accepted Answer

A)  $228.00
B)  $558.00
C)  $65,500.00
D)  $786.00E) B) and D)
F) B) and C)

Question 13

The estimated total manufacturing overhead for the Customizing Department is closest to:

Accepted Answer

A)  $54,110
B)  $30,100
C)  $98,700
D)  $68,600E) B) and D)
F) B) and C)

Question 14

Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121,000 and 10,000 direct labor-hours for the period.The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period.The predetermined overhead rate is closest to:

Accepted Answer

A)  $10.37
B)  $12.10
C)  $11.10
D)  $11.30E) A) and C)
F) B) and C)

Question 15

Luarca Corporation has two manufacturing departments--Casting and Customizing.The company used the following data at the beginning of the year to calculate predetermined overhead rates:  During the most recent month, the company started and completed two jobs--Job F and Job L.There were no beginning inventories.Data concerning those two jobs follow:  Required:
Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 50% on manufacturing cost to establish selling prices.Calculate the selling prices for Job F and Job L.

Accepted Answer

The first step is to calculate the estim...

Question 16

The amount of overhead applied to Job P513 is closest to:

Accepted Answer

A)  $76
B)  $190
C)  $266
D)  $114E) C) and D)
F) None of the above

Question 17

The estimated total manufacturing overhead is closest to:

Accepted Answer

A)  $475,000
B)  $285,000
C)  $190,000
D)  $285,004E) None of the above
F) All of the above

Question 18

Teasley Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.The company based its predetermined overhead rate for the current year on 70,000 machine-hours, total fixed manufacturing overhead cost of $630,000, and a variable manufacturing overhead rate of $3.40 per machine-hour.Job X159 was recently completed.The job cost sheet for the job contained the following data:  Required:
Calculate the total job cost for Job X159.

Accepted Answer

Estimated total manufacturing overhead c...

Question 19

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job J is closest to:

Accepted Answer

A)  $28,208
B)  $18,748
C)  $12,464
D)  $15,744E) B) and D)
F) B) and C)

Question 20

Levi Corporation uses a predetermined overhead rate of $23.40 per direct labor-hour.This predetermined overhead rate was based on estimated total fixed manufacturing overhead of $702,000 and 30,000 direct labor-hours for the period.The company incurred actual total fixed manufacturing overhead of $738,000 and 27,100 total direct labor-hours during the period.
Required:
Determine the amount of manufacturing overhead that would have been applied to all jobs during the period.

Accepted Answer

The answer of Levi Corporation uses a predetermined overhead rate...

Exam 2: Job-Order Costing: Calculating Unit Product Costs

Correct Answer
verified
The first step is to calculate the estim...
View Answer

If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to:

Correct Answer
verified

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job M is closest to:

Correct Answer
verified

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job J is closest to:

Correct Answer
verified

The total job cost for Job K332 is closest to:

Correct Answer
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The estimated total manufacturing overhead for the Customizing Department is closest to:

Correct Answer
verified

The unit product cost for Job M598 is closest to:

Correct Answer
verified

If the company marks up its unit product costs by 40% then the selling price for a unit in Job M598 is closest to:

Correct Answer
verified

The total amount of overhead applied in both departments to Job K928 is closest to:

Correct Answer
verified

The amount of overhead applied to Job P513 is closest to:

Correct Answer
verified

Correct Answer
verified

If the company marks up its unit product costs by 20% then the selling price for a unit in Job X455 is closest to:

Correct Answer
verified

The estimated total manufacturing overhead is closest to:

Correct Answer
verified

Correct Answer
verified
Estimated total manufacturing overhead c...
View Answer

Correct Answer
verified

Correct Answer
verified

The amount of overhead applied in the Assembly Department to Job P131 is closest to:

Correct Answer
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If a job is not completed at year end, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used.

Correct Answer
verified

The estimated total manufacturing overhead for the Customizing Department is closest to:

Correct Answer
verified

Correct Answer
verified

Exam 2: Job-Order Costing: Calculating Unit Product Costs

Correct AnswerverifiedThe first step is to calculate the estim...View AnswerShow Answer

If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to:

Correct AnswerverifiedShow Answer

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job M is closest to:

Correct AnswerverifiedShow Answer

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job J is closest to:

Correct AnswerverifiedShow Answer

The total job cost for Job K332 is closest to:

Correct AnswerverifiedShow Answer

The estimated total manufacturing overhead for the Customizing Department is closest to:

Correct AnswerverifiedShow Answer

The unit product cost for Job M598 is closest to:

Correct AnswerverifiedShow Answer

If the company marks up its unit product costs by 40% then the selling price for a unit in Job M598 is closest to:

Correct AnswerverifiedShow Answer

The total amount of overhead applied in both departments to Job K928 is closest to:

Correct AnswerverifiedShow Answer

The amount of overhead applied to Job P513 is closest to:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

If the company marks up its unit product costs by 20% then the selling price for a unit in Job X455 is closest to:

Correct AnswerverifiedShow Answer

The estimated total manufacturing overhead is closest to:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedEstimated total manufacturing overhead c...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The amount of overhead applied in the Assembly Department to Job P131 is closest to:

Correct AnswerverifiedShow Answer

If a job is not completed at year end, then no manufacturing overhead cost would be applied to that job when a predetermined overhead rate is used.

Correct AnswerverifiedShow Answer

The estimated total manufacturing overhead for the Customizing Department is closest to:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified
The first step is to calculate the estim...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Estimated total manufacturing overhead c...
View Answer

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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