Accounting Test 2

Exam Chapters 3,4,7 school-age child1. Which of the pastime is the correct formula to compute the predetermined belt cast? A. Estimated intact unit of measurements in the apportionment base divided by estimated core manufacturing disk overhead lives. B. Estimated total manufacturing overhead speak tos divided by estimated total units in the allocation base. C. Actual total manufacturing overhead cost divided by estimated total units in the allocation base. D.Estimated total manufacturing overhead costs divided by true(a) total units in the allocation base.2. Which of the following would probably be the least appropriate allocation base for allocating overhead in a highly automated manufacturer of specialty valves? A. Machine-hours B. Power consumption C. Direct labor-hours D. Machine setups3. Which equipment casualty will make the following statement true? When manufacturing overhead is over utilise, the Manufacturing Overhead figure has a __________ remainder and appl ied manufacturing overhead is greater than __________ manufacturing overhead.A. debit, actual B. credit, actual C. debit, estimated D. credit, estimated4. Daguio Corporation uses lineal labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $224,580. At the end of the year, actual direct labor-hours for the year were 18,200 hours, manufacturing overhead for the year was on a lower floorapplied by $12,100, and the actual manufacturing overhead was $219,580. The predetermined overhead rate for the year must ease up been closest to A. $11. 40 per machine-hour B. $12. 34 per machine-hourC. $12. 06 per machine-hour D. $10. 53 per machine-hour5. Crinks Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 11,200 hours and the total estimated manufacturing overhead was $259,840. At the end of the year, actual direct labor-hours for th e year were 10,800 hours and the actual manufacturing overhead for the year was $254,840. Overhead at the end of the year was A. $4,280 overapplied B. $9,280 overapplied C. $9,280 underapplied D. $4,280 underapplied6.Washtenaw Corporation uses a lineage-order be organisation. The following data are for last year Washtenaw applies overhead using a predetermined rate found on direct labor-hours. What predetermined overhead rate was employ last year? A. $3. 55 per direct labor-hour B. $3. 25 per direct labor-hour C. $3. 08 per direct labor-hour D. $3. 36 per direct labor-hour7. A company should use fulfil cost, earlier than job order cost, if A. production is only partially completed during the accounting period. B. the product is manufactured in batches only as orders are received.C. the product is composed of mass-produced homogeneous units. D. the product goes through several(prenominal) steps of production.8. Which of the following characteristics applies to process costing, but does not apply to job order costing? A. The take aim for averaging. B. The use of kindred units of production. C. Separate, identifiable jobs. D. The use of predetermined overhead rates.9. The cost of beginning document under the weighted-average method is A. added in with current period costs in determining costs per equivalent unit for a given period. B. gnored in determining the costs per equivalent unit for a given period. C. considered severally from costs incurred during the current period. D. subtracted from current period costs in determining costs per equivalent unit for a given period.10. The Nichols Company uses the weighted-average method in its process costing system. The company recorded 29,500 equivalent units for transformation costs for November in a particular department. There were 6,000 units in the ending work in process inventory on November 30, 75% complete with respect to conversion costs.The November 1 work in process inventory consisted of 8,000 u nits, 50% complete with respect to conversion costs. A total of 25,000 units were completed and transferred out(p) of the department during the calendar month. The number of units started during November in the department was A. 24,500 units B. 23,000 units C. 27,000 units D. 21,000 units11. Diston Company uses the weighted-average method in its process costing system. The initiative processing department, the Welding Department, started the month with 18,000 units in its beginning work in process inventory that were 30% complete with respect to conversion costs.The conversion cost in this beginning work in process inventory was $44,820. An additional 90,000 units were started into production during the month. There were 21,000 units in the ending work in process inventory of the Welding Department that were 10% complete with respect to conversion costs. A total of $677,970 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places. ) A. $8. 112 B. $8. 300 C. $7. 533 D. $6. 10812.Sanchez Corporation uses the weighted-average method in its process costing system. The adjustment Department is the second department in its production process. The data below summarize the departments operations in March. The Fitting Departments cost per equivalent unit for conversion cost for March was $8. 66. How much conversion cost was assigned to the units transferred out of the Fitting Department during March? A. $480,630 B. $450,320 C. $444,258 D. $510,94013. Designing a new product is an eccentric of (an) A. Unit-level activity. B. Batch-level activity. C. Product-level activity. D. Organization-sustaining activity.14. McCaskey Corporation uses an activity-based costing system with the following three activity cost kittens The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has p rovided the following data concerning its costs The distribution of preference consumption across activity cost pools is given below The activity rate for the Fabrication activity cost pool is closest to A. $1. 65 per machine-hour B. $4. 00 per machine-hour C. $0. 0 per machine-hour D. $2. 40 per machine-hour15. Christiansen Corporation uses an activity-based costing system with the following three activity cost pools The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has provided the following data concerning its costs The distribution of resource consumption across activity cost pools is given below The activity rate for the Order touch on activity cost pool is closest to A. $676 per order B. $780 per order C. $560 per order D. $312 per order16.Bossie Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activi ty based costing system How much cost, in total, would be allocated in the first-stage allocation to the Assembly activity cost pool? A. $196,333 B. $209,000 C. $310,000 D. $155,00017. Spendlove Corporation has provided the following data from its activity-based costing system The company makes 430 units of product S78N a year, requiring a total of 1,120 machine-hours, 40 orders, and 30 inspection-hours per year.The products direct materials cost is $49. 81 per unit and its direct labor cost is $12. 34 per unit. The product sells for $129. 90 per unit. According to the activity-based costing system, the product margin for product S78N is A. $4,116. 50 B. $29,132. 50 C. $6,180. 50 D. $5,161. 3018. Wecker Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products Data concerning devil products appear below How much overhead cost would be assigned to Product V09X using the activity-based costing system? A. 157. 87 B. $91,722. 47 C. $10,385. 22 D. $5,485. 5019. The balance in the Work in Process account equals A. the balance in the Finished Goods inventory account. B. the balance in the Cost of Goods Sold account. C. the balances on the job cost sheets of uncompleted jobs. D. the balance in the Manufacturing Overhead account.20. Overapplied manufacturing overhead occurs when A. applied overhead exceeds actual overhead. B. applied overhead exceeds estimated overhead. C. actual overhead exceeds estimated overhead. D. budgeted overhead exceeds actual overhead.