44. Kaiser Corporation bases its predetermined overhead rate on the estimated machine-hours for the.

44. Kaiser Corporation bases its predetermined
overhead rate on the estimated machine-hours for the upcoming year. Data for
the upcoming year appear below:

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The predetermined overhead rate for the recently completed year was closest
to:
A. $6.68
B. $25.02
C. $25.59
D. $18.34

45. The following data have been recorded for recently
completed Job 674 on its job cost sheet. Direct materials cost was $2,039. A
total of 32 direct labor-hours and 175 machine-hours were worked on the job.
The direct labor wage rate is $14 per labor-hour. The company applies
manufacturing overhead on the basis of machine-hours. The predetermined
overhead rate is $15 per machine-hour. The total cost for the job on its job
cost sheet would be:
A. $2,967
B. $2,487
C. $2,068
D. $5,112

46. Job 731 was recently completed. The following data
have been recorded on its job cost sheet:

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The company applies manufacturing overhead on the basis of machine-hours. The
predetermined overhead rate is $14 per machine-hour. The total cost that would
be recorded on the job cost sheet for Job 731 would be:
A. $3,288
B. $5,094
C. $4,254
D. $2,418

47. The operations of the Kerry Company resulted in
underapplied overhead of $5,000. The entry to close out this balance to Cost of
Goods Sold and the effect of the underapplied overhead on Cost of Goods Sold
would be:

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A. Option A
B. Option B
C. Option C
D. Option D

48. Reichelderfer Corporation has provided data concerning
the company’s Manufacturing Overhead account for the month of August. Prior to
the closing of the overapplied or underapplied balance to Cost of Goods Sold,
the total of the debits to the Manufacturing Overhead account was $50,000 and
the total of the credits to the account was $72,000. Which of the following
statements is true?
A. Manufacturing overhead transferred from Finished Goods to Cost of Goods
Sold during the month was $72,000.
B. Manufacturing overhead applied to Work in Process for the month was
$50,000.
C. Actual manufacturing overhead for the month was $50,000.
D. Manufacturing overhead for the month was underapplied by $22,000.

49. Hults Corporation has provided data concerning the
company’s Manufacturing Overhead account for the month of November. Prior to
the closing of the overapplied or underapplied balance to Cost of Goods Sold,
the total of the debits to the Manufacturing Overhead account was $75,000 and
the total of the credits to the account was $57,000. Which of the following
statements is true?
A. Manufacturing overhead transferred from Finished Goods to Cost of Goods
Sold during the month was $75,000.
B. Actual manufacturing overhead incurred during the month was $57,000.
C. Manufacturing overhead applied to Work in Process for the month was
$75,000.
D. Manufacturing overhead for the month was underapplied by $18,000.

50. Vandagriff Corporation has provided data
concerning the company’s Manufacturing Overhead account for the month of June.
Prior to the closing of the overapplied or underapplied balance to Cost of
Goods Sold, the total of the debits to the Manufacturing Overhead account was
$77,000 and the total of the credits to the account was $64,000. Which of the
following statements is true?
A. Manufacturing overhead transferred from Finished Goods to Cost of Goods
Sold during the month was $77,000.
B. Manufacturing overhead applied to Work in Process for the month was
$64,000.
C. Manufacturing overhead for the month was overapplied by $13,000.
D. Actual manufacturing overhead incurred during the month was $64,000.

51. During October, Crusan Corporation incurred
$62,000 of direct labor costs and $4,000 of indirect labor costs. The journal
entry to record the accrual of these wages would include a:
A. debit to Work in Process of $66,000
B. credit to Work in Process of $66,000
C. debit to Work in Process of $62,000
D. credit to Work in Process of $62,000

52. During December at Ingrim Corporation, $74,000 of
raw materials were requisitioned from the storeroom for use in production.
These raw materials included both direct and indirect materials. The indirect
materials totaled $6,000. The journal entry to record the requisition from the
storeroom would include a:
A. debit to Raw Materials of $74,000
B. debit to Work in Process of $68,000
C. credit to Manufacturing Overhead of $6,000
D. debit to Work in Process of $74,000

53. Stickles Corporation incurred $79,000 of actual
Manufacturing Overhead costs during August. During the same period, the
Manufacturing Overhead applied to Work in Process was $75,000. The journal
entry to record the incurrence of the actual Manufacturing Overhead costs would
include a:
A. debit to Manufacturing Overhead of $79,000
B. credit to Manufacturing Overhead of $79,000
C. credit to Work in Process of $75,000
D. debit to Work in Process of $75,000

 

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