Chapter 003, Systems Design: Job-Order Costing

| October 3, 2018

137. The work in process
inventory at the end of April after allocation of any underapplied or
overapplied overhead for the month is closest to:
A. $20,947
B. $20,400

C. $21,000

D. $20,453

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Chapter 003, Systems Design: Job-Order Costing

138. The journal entry to
record the allocation of any underapplied or overapplied overhead for April
would include the following:
A. credit to Cost of Goods Sold of $1,240
B. credit to Cost of Goods Sold of $106,810

C. debit to Cost of Goods Sold of $106,810

D. debit to Cost of Goods Sold of $1,240

Gowin Inc. has provided the
following data for the month of September. There were no beginning inventories;
consequently, the direct materials, direct labor, and manufacturing overhead
applied listed below are all for the current month.

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Manufacturing overhead for the month was overapplied by $13,000.

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.

139. The finished goods inventory at the end of September after
allocation of any underapplied or overapplied overhead for the month is closest
to:

A. $34,859

B. $34,860

C. $37,981

D. $37,980

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Chapter 003, Systems Design: Job-Order Costing

140. The journal entry to record the allocation of any
underapplied or overapplied overhead for September would include the following:
A. debit to Work in Process of $260
B. credit to Work in Process of $260

C. debit to Work in Process of $5,590

D. credit to Work in Process of $5,590

Jupiter 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.

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Manufacturing overhead for the month was underapplied by $2,000.

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.

141. The finished goods
inventory at the end of August after allocation of any underapplied or
overapplied overhead for the month is closest to:

A. $33,540

B. $33,532

C. $34,580

D. $34,588

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Chapter 003, Systems Design: Job-Order Costing

142. The journal entry to record the allocation of any
underapplied or overapplied overhead for August would include the following:
A. debit to Cost of Goods Sold of $89,200
B. credit to Cost of Goods Sold of $1,360

C. debit to Cost of Goods Sold of $1,360

D. credit to Cost of Goods Sold of $89,200

Mcgarey
Inc. has provided the following data for the month of November. There were no
beginning inventories; consequently, the direct materials, direct labor, and
manufacturing overhead applied listed below are all for the current month.

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Manufacturing overhead for the month was underapplied by $12,000.

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.

143. The cost of goods sold
for November after allocation of any underapplied or overapplied overhead for
the month is closest to:

A. $253,350

B. $275,310

C. $255,390

D. $277,350

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Chapter 003, Systems Design: Job-Order Costing

144. The journal entry to
record the allocation of any underapplied or overapplied overhead for November
would include the following:
A. debit to Work in Process of $8,720
B. debit to Work in Process of $480

C. credit to Work in Process of $480

D. credit to Work in Process of $8,720

Roofe Inc. has provided the
following data for the month of October. There were no beginning inventories;
consequently, the direct materials, direct labor, and manufacturing overhead
applied listed below are all for the current month.

.jpg”>

Manufacturing overhead for the month was underapplied by $2,000.

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.

145. The cost of goods sold for October after allocation of any
underapplied or overapplied overhead for the month is closest to:

A. $241,320

B. $237,960

C. $241,640

D. $237,640

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Chapter 003, Systems Design: Job-Order Costing

146. The journal entry to
record the allocation of any underapplied or overapplied overhead for October
would include the following:
A. credit to Finished Goods of $260
B. credit to Finished Goods of $35,950

C. debit to Finished Goods of $260

D. debit to Finished Goods of $35,950

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