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linda_us
linda_us, Master's Degree
Category: Multiple Problems
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Experience:  Business Analyst and Solution Consultant with over 9 years of experience.
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1. The following journal entry would be made to apply overhead

Resolved Question:

1.
The following journal entry would be made to apply overhead cost to jobs in a job-order costing system:

Picture
A) True
B) False
2.
Top management salaries should not go into the Manufacturing Overhead account.
A) True
B) False
MC
3.
On April 1, Stelter Corporation had $34,000 of raw materials on hand. During the month, the company purchased an additional $60,000 of raw materials. During April, $70,000 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 $7,000. Prepare journal entries to record these events. Use these journal entries to answer the following questions:

The debits to the Raw Materials account for the month of April total:
A) $94,000
B) $70,000
C) $60,000
D) $34,000
4.
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
5.
At the beginning of August, Hogancamp Corporation had $26,000 of raw materials on hand. During the month, the company purchased an additional $73,000 of raw materials. During August, $77,000 of raw materials were requisitioned from the storeroom for use in production. The credits to the Raw Materials account for the month of August total:
A) $73,000
B) $77,000
C) $99,000
D) $26,000
6.
Acitelli Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations.

Picture

The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year.

The applied manufacturing overhead for the year is closest to:
A) $357,979
B) $360,547
C) $359,520
D) $362,088
7.
During September, Stutzman Corporation incurred $86,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $81,000.

The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a:
A) credit to Manufacturing Overhead of $86,000
B) debit to Manufacturing Overhead of $86,000
C) credit to Work in Process of $81,000
D) debit to Work in Process of $81,000
8.
On April 1, Stelter Corporation had $34,000 of raw materials on hand. During the month, the company purchased an additional $60,000 of raw materials. During April, $70,000 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 $7,000. Prepare journal entries to record these events. Use these journal entries to answer the following questions:

The debits to the Work in Process account as a consequence of the raw materials transactions in April total:
A) $60,000
B) $0
C) $70,000
D) $63,000
9.
Which of the following accounts is debited when direct labor is recorded?
A) Work in process
B) Salaries and wages expense
C) Salaries and wages payable
D) Manufacturing overhead
10.
Kirson Corporation incurred $89,000 of actual Manufacturing Overhead costs during December. During the same period, the Manufacturing Overhead applied to Work in Process was $92,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
A) debit to Manufacturing Overhead of $92,000
B) debit to Work in Process of $89,000
C) credit to Manufacturing Overhead of $92,000
D) credit to Work in Process of $89,000
Submitted: 2 years ago.
Category: Multiple Problems
Expert:  linda_us replied 2 years ago.
Thanks for requesting me. I am working on it.
Customer: replied 2 years ago.
Expert:  linda_us replied 2 years ago.
linda_us, Master's Degree
Satisfied Customers: 7021
Experience: Business Analyst and Solution Consultant with over 9 years of experience.
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