Chapter 002, Managerial Accounting and Cost Concepts

| October 3, 2018

107. The net operating income for December was: A. $93,000
B. $159,000 C. $90,000 D. $156,000

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Chapter 002, Managerial Accounting and Cost Concepts

Geneva
Steel Corporation produces large sheets of heavy gauge steel. The company
showed the following amounts relating to its production for the year just
completed:
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109. The balance of the finished goods inventory at the end of the year
was: A. $95,000
B. $50,000
C. $193,000 D. $45,000

110.
Manufacturing overhead for
the year was:

A.
$84,000

B. $78,000

C.
$56,000

D.
$72,000

111. Cost of goods manufactured for the year was:

A.
$171,000
B.
$160,000

C. $243,000

D.
$244,000

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Chapter 002, Managerial Accounting and Cost Concepts

Dagg
Corporation reported the following data for the month of October:
.0/msohtmlclip1/01/clip_image002.jpg”>

112. The total manufacturing cost for October was: A. $84,000
B. $114,000
C. $176,000 D. $165,000

113. The cost of goods manufactured for October was: A. $176,000
B. $168,000
C. $162,000 D. $165,000

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Chapter 002, Managerial Accounting and Cost Concepts

Ruggeri
Corporation reported the following data for the month of July:
.0/msohtmlclip1/01/clip_image003.jpg”>

114. The cost of goods manufactured for July was: A. $152,000
B. $172,000
C. $177,000 D. $162,000

115.
The cost of goods sold for
July was:

A.
$196,000
B.
$120,000

C. $148,000

D.
$244,000

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Chapter 002, Managerial Accounting and Cost Concepts

Dodridge Corporation has
provided the following data for February. The beginning balance in the raw
materials inventory account was $23,000. During the month, the company made raw
materials purchases amounting to $59,000. At the end of the month, the balance
in the raw materials inventory account was $33,000. Direct labor cost was
$28,000 and manufacturing overhead was $74,000. The beginning balance in the
work in process account was $12,000 and the ending balance was $17,000. The
beginning balance in the finished goods account was $48,000 and the ending
balance was $54,000.

116. The total manufacturing cost for February was: A. $74,000
B. $151,000
C. $102,000 D. $161,000

117. The cost of goods manufactured for February was: A. $156,000
B. $146,000
C. $151,000 D. $161,000

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