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Manufacturing accounting_Five Questions

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Question;1.;Determine;the amount of manufacturing overhead given the following information;A. $7,750.;B. $10,430.;C. $9,750.;D. $11,080.;2.;Flow of;manufacturing costs;The following data are taken from the accounting records of Gregory Mfg. Co.;Compute the following for the current year;(a) Direct materials purchased: $____________ (b) Total manufacturing costs;charged to production (the Work in Process Inventory account): $;(c) The cost of finished goods manufactured: $____________ (d) The cost of;goods sold: $;3. Use the following information to answer questions;Starbright manufactures children car seats;strollers, and baby swings. Starbright manufacturing costs are budgeted as;follows;The company uses activity-based costing to allocate its manufacturing overhead;costs to products based on the following schedule;During the current month, the following levels of activities were incurred;What are the setup costs allocated to Strollers;during the current month?;A. $9,036.;B. $6,502.;C. $14,458.;D. Cannot be determined.;What are the factory foremen salaries allocated to Car;Seats during the current month?;A. $11,607.;B. $26,786.;C. $36,607.;D. $75,000.;What are the factory utilities costs allocated to Baby Swings;during the current month?;A. $210,000.;B. $51,808.;C. $34,016.;D. $19,177.;What are the;total manufacturing overhead costs allocated to the Car Seats for the current;month?;A. $69,837.;B. $102,873.;C. $37,290.;4. Job order cost system-journal entries;Paxton Products, which uses a job order cost system, completed the following;transactions during the current month;(A) Materials costing $75,000 were used on various jobs.;(B) Time cards of direct workers indicate direct labor costs of $125,000 for;the month.;(C) Overhead is applied to jobs at a rate of 75% of direct labor cost.;(D) Jobs with total accumulated costs of $165,000 were finished during the;month.;(E) Units costing $210,000 were sold during the month at sales prices totaling;$390,000. All sales were on account.;In the space provided, prepare a general journal entry for the month;summarizing each of the above categories of transactions. Explanations may be;omitted.;12. If 8,000 units were in beginning inventory, 26,000;units were started, and 6,000 units were in the ending inventory, how many;units were transferred out?;A. 40,000.;B. 26,000.;C. 28,000.;D. 24,000.;5. Use the following information to answer questions;What are the equivalent units for materials?;A. 92,000.;B. 60,000.;C. 160,000.;D. 110,000.;What are the equivalent units for direct labor and;overhead?;A. 140,000.;B. 80,000.;C. 160,000.;D. 130,000.;Refer to;information above. If direct labor and overhead costs totaled $172,000, what;would be the unit cost?;A. $1.23.;B. $1.08.;C. $1.56.;D. $3.44.

 

Paper#37253 | Written in 18-Jul-2015

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