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# I need the answers for tests 061681,

### Customer Question

I need the answers for tests 061681, 061682, 061683, 061684. Here is a preview for one of the test. I have 4 more test.

Use the following information to answer this question.
The following data (in thousands of dollars) have been taken from the accounting records of Karlana
Corporation for the just-completed year.
Sales \$910
Raw materials, inventory, beginning \$80
Raw materials, inventory, ending \$20
Purchases of raw materials \$100
Direct labor \$130
Selling expenses \$140
Work in process inventory, beginning \$40
Work in process inventory, ending \$10
Finished goods inventory, beginning \$130
Finished goods inventory, ending \$150
1. The cost of goods sold for the year (in thousands of dollars) was
A. \$500.
B. \$670.
C. \$540.
D. \$650.
Use the following information to answer this question.
Abis Corporation uses the weighted-average method in its process-costing system. This month, the
beginning inventory in the first processing department consisted of 800 units. The costs and percentage
completion of these units in beginning inventory were
Cost Percent Complete
Material costs \$6,000 50%
Conversion costs \$9,900 30%
A total of 9,200 units were started, and 8,200 units were transferred to the second processing department
during the month. The following costs were incurred in the first processing department during the month:
The ending inventory was 80% complete with respect to materials and 20% complete with respect to
conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the
answer that's the closest to the answer you computed. To reduce rounding error, carry out all
computations to at least three decimal places.
Cost
Material costs \$113,900
Conversion costs \$322,500
2. The cost per equivalent unit for materials for the month in the first processing department is closest to
A. \$12.44.
B. \$11.99.
C. \$11.82.
D. \$11.39.
3. Which situation always results in underapplied overhead?
4. Cost of goods manufactured will usually include
A. only direct labor and direct materials costs.
B. some period costs as well as some product costs.
C. some costs incurred during the prior period as well as costs incurred during the current period.
D. only costs incurred during the current period.
5. Malaviya Corporation uses the FIFO method in its process-costing system. Operating data for the
Casting Department for the month of September appear below:
According to the company's records, the conversion cost in the beginning work-in-process inventory was
\$63,104 at the beginning of September. Additional conversion costs of \$654,240 were incurred in the
department during the month. What would be the cost per equivalent unit for conversion costs for
Units
Percent Complete
with Respect to
Conversion
Beginning work in process inventory 17,000 40%
Transferred in from the prior department
during September 72,000
Ending work in process inventory 18,000 30%
September? (Round off to three decimal places.)
A. \$9.087
B. \$9.400
C. \$8.060
D. \$9.280
Use the following information to answer this question.
The Lee Company uses a job-order costing system. The following data were recorded for June:
Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were
completed during June and transferred to finished goods. Jobs 235 and 238 have been delivered to
customers.
Job
Number
June 1
Work in
Process
Inventory
Direct
Materials
Direct
Labor
235 \$2,500 \$600 \$400
236 \$1,500 \$800 \$1,000
237 \$1,000 \$1,200 \$1,750
238 \$800 \$1,500 \$2,250
6. Lee Company's cost of goods sold for June was
A. \$14,640.
B. \$15,520.
C. \$10,170.
D. \$9,730.
7. Dewey Company uses the weighted-average method in its process-costing system. The first processing
department, the Welding Department, started the month with 15,000 units in its beginning work-in-process
inventory that were 20% complete with respect to conversion costs. The conversion cost in this beginning
work-in-process inventory was \$19,200. An additional 86,000 units were started into production during
the month. There were 13,000 units in the ending work-in-process inventory of the Welding Department
that were 60% complete with respect to conversion costs. A total of \$575,360 in conversion costs were
incurred in the department during the month.
The cost per equivalent unit for conversion costs is closest to
A. \$6.690.
B. \$6.400.
C. \$5.812.
D. \$6.206.
Use the following information to answer this question.
The following cost data pertain to the operations of Brentwood Store, Inc., for the month of December.
Corporate legal office salaries \$74,000
Shoe Department cost of sales,
Brentwood Store
\$35,000
Store manager's salary
Brentwood Store
\$14,000
Shoe Department sales commissions,
Brentwood Store
\$5,000
Store utilities,
Brentwood Store
\$14,000
Shoe Department manager's salary,
Brentwood Store
\$3,000
Central warehouse lease cost \$10,000
Janitorial costs, Brentwood Store \$8,000
The Brentwood Store is just one of many stores owned and operated by the company. The Shoe
Department is one of many departments at the Brentwood Store. The central warehouse serves all
of the company's stores.
8. What is the total amount of the costs listed above that are direct costs of the Shoe Department?
A. \$43,000
B. \$79,000
C. \$35,000
D. \$40,000
Use the following information to answer this question.
The Lee Company uses a job-order costing system. The following data were recorded for June:
Overhead is charged to production at 80% of direct materials cost. Jobs 235, 237, and 238 were
completed during June and transferred to finished goods. Jobs 235 and 238 have been delivered to
customers.
Job
Number
June 1
Work in
Process
Inventory
Direct
Materials
Direct
Labor
235 \$2,500 \$600 \$400
236 \$1,500 \$800 \$1,000
237 \$1,000 \$1,200 \$1,750
238 \$800 \$1,500 \$2,250
9. Lee Company's work-in-process inventory balance on June 30 was
A. \$3,300.
B. \$3,940.
C. \$9,450.
D. \$4,100.
Use the following information to answer this question.
The following data (in thousands of dollars) have been taken from the accounting records of Karlana
Corporation for the just-completed year.
Sales \$910
Raw materials, inventory, beginning \$80
Raw materials, inventory, ending \$20
Purchases of raw materials \$100
Direct labor \$130
Selling expenses \$140
Work in process inventory, beginning \$40
Work in process inventory, ending \$10
Finished goods inventory, beginning \$130
Finished goods inventory, ending \$150
10. The cost of goods manufactured (finished) for the year (in thousands of dollars) was
A. \$520.
B. \$460.
C. \$530.
D. \$500.
11. An operation costing system is
A. identical to a job-order costing system, except that actual manufacturing overhead costs are traced to units of product.
B. the same as a process-costing system, except that direct materials costs are accounted for in the same way as in job-order
costing.
C. the same as a job-order system, except that direct materials costs are accounted for in the same way as in process costing.
D. identical to a process-costing system, except that actual manufacturing overhead costs are traced to units of product.
Use the following information to answer this question.
Abis Corporation uses the weighted-average method in its process-costing system. This month, the
beginning inventory in the first processing department consisted of 800 units. The costs and percentage
completion of these units in beginning inventory were
A total of 9,200 units were started, and 8,200 units were transferred to the second processing
Cost Percent Complete
Material costs \$6,000 50%
Conversion costs \$9,900 30%
department during the month. The following costs were incurred in the first processing department
during the month:
The ending inventory was 80% complete with respect to materials and 20% complete with respect to
conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the
answer that's the closest to the answer you computed. To reduce rounding error, carry out all
computations to at least three decimal places.
Cost
Material costs \$113,900
Conversion costs \$322,500
12. What are the equivalent units for conversion costs for the month in the first processing department?
A. 360
B. 10,000
C. 8,560
D. 8,200
Use the following information to answer this question.
The following data (in thousands of dollars) have been taken from the accounting records of Karlana
Corporation for the just-completed year.
Sales \$910
Raw materials, inventory, beginning \$80
Raw materials, inventory, ending \$20
Purchases of raw materials \$100
Direct labor \$130
Selling expenses \$140
Work in process inventory, beginning \$40
Work in process inventory, ending \$10
Finished goods inventory, beginning \$130
Finished goods inventory, ending \$150
13. The net operating income for the year (in thousands of dollars) was
A. \$110.
B. \$180.
C. \$410.
D. \$40.
14. Assume there's no beginning work-in-process inventory and the ending work-in-process inventory is
70% complete with respect to conversion costs. Under the weighted-average method, the number of
equivalent units of production with respect to conversion costs would be
A. the same as the units completed.
B. less than the units started during the period.
C. less than the units completed.
D. the same as the units started during the period.
Use the following information to answer this question.
The following cost data pertain to the operations of Brentwood Stores., for the month of December.
Corporate legal office salaries \$74,000
Shoe Department cost of sales,
Brentwood Store
\$35,000
Store manager's salary
Brentwood Store
\$14,000
Shoe Department sales commissions,
Brentwood Store
\$5,000
Store utilities,
Brentwood Store
\$14,000
Shoe Department manager's salary,
Brentwood Store
\$3,000
Central warehouse lease cost \$10,000
Janitorial costs, Brentwood Store \$8,000
The Brentwood Store is just one of many stores owned and operated by the company. The Shoe
Department is one of many departments at the Brentwood Store. The central warehouse serves all of
the company's stores.
15. What is the total amount of the costs listed above that are not direct costs of the Brentwood Store?
A. \$36,000
B. \$78,000
C. \$43,000
D. \$162,000
Use the following information to answer this question.
Sanker Inc. has provided the following data for the month of August. There were no beginning
inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed
below are all for the current month.
Work In
Process
Finished
Goods
Cost of
Goods Sold Total
Direct materials \$2,790 \$7,680 \$18,240 \$28,710
Direct labor 9,700 19,200 45,600 74,500
Manufacturing
overhead applied 5,440 8,000 18,560 32,000
Manufacturing overhead for the month was overapplied by \$5,000. The company allocates any
underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold
at the end of the month on the basis of the overhead applied during the month in those accounts.
Total \$17,930 \$34,880 \$82,400 \$135,210
16. The journal entry to record the allocation of any underapplied or overapplied overhead for August
would include
A. debit to finished goods of \$1,250.
B. credit to finished goods of \$1,250.
C. debit to finished goods of \$34,880.
D. credit to finished goods of \$34,880.
17. In September, one of the processing departments at Shenkel Corporation had a beginning work-inprocess
inventory of \$25,000 and an ending work-in-process inventory of \$18,000. During the month,
the cost of units transferred out from the department was \$304,000. In the department's cost
reconciliation report for September, the total cost accounted for would be
A. \$644,000.
B. \$619,000.
C. \$43,000.
D. \$322,000.
Use the following information to answer this question.
Abis Corporation uses the weighted-average method in its process-costing system. This month, the
beginning inventory in the first processing department consisted of 800 units. The costs and percentage
completion of these units in beginning inventory were
A total of 9,200 units were started, and 8,200 units were transferred to the second processing
department during the month. The following costs were incurred in the first processing department
during the month:
The ending inventory was 80% complete with respect to materials and 20% complete with respect to
conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the
answer that's the closest to the answer you computed. To reduce rounding error, carry out all
computations to at least three decimal places.
Cost Percent Complete
Material costs \$6,000 50%
Conversion costs \$9,900 30%
Cost
Material costs \$113,900
Conversion costs \$322,500
18. The cost per equivalent unit for conversion costs for the first department for the month is closest to
A. \$40.77.
B. \$33.24.
C. \$37.68.
D. \$38.83.
Use the following information to answer this question.
Abis Corporation uses the weighted-average method in its process-costing system. This month, the
beginning inventory in the first processing department consisted of 800 units. The costs and percentage
completion of these units in beginning inventory were
A total of 9,200 units were started, and 8,200 units were transferred to the second processing
department during the month. The following costs were incurred in the first processing department
during the month:
The ending inventory was 80% complete with respect to materials and 20% complete with respect to
conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the
answer that's the closest to the answer you computed. To reduce rounding error, carry out all
computations to at least three decimal places.
Cost Percent Complete
Material costs \$6,000 50%
Conversion costs \$9,900 30%
Cost
Material costs \$113,900
Conversion costs \$322,500
19. The total cost transferred from the first processing department to the next processing department
during the month is closest to
A. \$436,400.
B. \$420,414.
C. \$512,700.
D. \$452,300.
20. Freeman Company uses a predetermined overhead rate based on direct-labor hours to apply
manufacturing overhead to jobs. At the beginning of the year, the company estimated manufacturing
overhead would be \$150,000 and direct-labor hours would be 10,000. The actual figures for the year
were \$186,000 for manufacturing overhead and 12,000 direct-labor hours. The cost records for the
year will show

Submitted: 1 year ago.
Category: Homework
Expert:  F. Naz replied 1 year ago.

Muhammad Jawaad Ahmed : Welcome to JA, it will be my pleasure to do the assignment, but do you need this questions to be solved or you will provide me the fresh data and by what time do you need the answers of all, thanks.
Customer: Yes, but I need the answer for all test. 60 for the answer for all test 4 more
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Customer: two installment for whay actually
Muhammad Jawaad Ahmed : Yes because if you like my work then you make one payment of \$60 and then I will do two other answers for you then again you rate my answer and pay \$60 which will make 120 and remaining 30 you add as bonus with second answer when you will rate thanks.
Customer: Sorry, I just wants to be clear.. I have four test and you are going to charge me 150.00 dollars ... Is that correct?
Muhammad Jawaad Ahmed : Yes i will answer for 2 tests in first installment, then another two in next installment or alternatively you can post the other two exams as new post with price of \$90, by addin my name before the question, thanks.
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Muhammad Jawaad Ahmed : I am working on first one, please provide data for other, by what time do you need the answer thanks.
Customer: got it
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Muhammad Jawaad Ahmed : Okay by what time do you need the answer of this first one and provide data for others as well, thanks.
Customer: did not take all info
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Customer: locating where I stopped
Customer: 17# XXXXX Murdoch Corporation has provided the following data concerning its only product:What is the margin of safety in dollars?Murdoch Product DataSelling price \$230 per unitCurrent sales 39,100 unitsBreak-even sales 29,716 unitsA. \$2,158,320B. \$5,995,333C. \$6,834,680D. \$8,993,00018. Use the following information to answer this question.Callaham Corporation is a wholesaler that sells a single product. Management has provided the followingcost data for two levels of monthly sales volume. The company sells the product for \$115.80 per unit.The best estimate of the total contribution margin when 4,300 units are sold isSales volume (units)4,000 5,000Cost of sales \$338,000 \$422,500Selling and administrative costs \$89,600 \$106,000A. \$43,430.B. \$134,590.C. \$38,270.D. \$64,070.19. A disadvantage of the high-low method of cost analysis is thatA. it can't be used when there are a very large number of observations.B. it uses two extreme data points, which may not be representative of normal conditions.C. it relies totally on the judgment of the person performing the cost analysis.D. it's too time-consuming to apply.20. Daniele 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:Activity Cost Pool Total ActivityFabrication 50,000 machine-hoursOrder processing 500 ordersOther not applicableCost DataWages and salaries \$280,000Depreciation \$200,000Occupancy \$140,000End of examThe distribution of resource consumption across activity cost pools is given below:The activity rate for the Fabrication activity cost pool is closest to _______ per machine hour.Total \$620,000Activity Cost PoolsFabricationOrderProcessing Other TotalWages andsalaries60% 30% 10% 100%Depreciation 20% 35% 45% 100%Occupancy 10% 50% 40% 100%A. \$7.44B. \$1.24C. \$3.72D. \$4.4
Customer: Done 1
Customer: You are the best
Customer: more to come for the other two ....... please let me know.. when you are complete with answers for first set
Customer: You are d'man
Customer: thanks for working with me.
Expert:  F. Naz replied 1 year ago.
Okay wroking will come back as soon as I finish it thanks.
Customer: replied 1 year ago.
Is everything ok?
Customer: replied 1 year ago.
Sorry, I did not add your name before each question. Would you like me to di that for the second two assignments
Expert:  F. Naz replied 1 year ago.
F. Naz, Chartered Accountant
Category: Homework
Satisfied Customers: 4472
Experience: Experience with chartered accountancy
Customer: replied 1 year ago.
I will definitely seek a bonus for you :>)later ( my word )
Expert:  F. Naz replied 1 year ago.
thanks.
F. Naz, Chartered Accountant
Category: Homework
Satisfied Customers: 4472
Experience: Experience with chartered accountancy
Customer: replied 1 year ago.
Hi buddy just wondering.
Customer: replied 1 year ago.
Expert:  F. Naz replied 1 year ago.
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