Chapter 003, Systems Design: Job-Order Costing

| October 3, 2018

116. The cost of goods manufactured was:

A. $366,000

B. $420,000

C. $385,000

D. $310,000

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Chapter 003, Systems Design: Job-Order Costing

The Lee Company uses a
job-order costing system. The following data were recorded for June:

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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.

118. Lee Company’s cost of goods sold for June was: A. $15,520
B. $10,170 C. $9,730 D. $14,640

119. Lee’s Work in Process inventory balance on June 30 was: A. $4,100
B. $3,940 C. $3,300 D.
$9,450

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Chapter 003, Systems Design: Job-Order Costing

Rappaport
Corporation reported the following data for the month of February:

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120. The direct materials cost for February is: A. $95,000
B. $88,000 C. $79,000 D.
$63,000

121. The cost of goods manufactured for February is: A. $220,000
B. $238,000 C. $241,000 D.
$223,000

122. The adjusted cost of goods sold that appears on the income
statement for February is: A. $240,000
B. $238,000 C. $239,000 D.
$237,000

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Chapter 003, Systems Design: Job-Order Costing

Smalling
Inc. has provided the following data for the month of November:

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123. The cost of goods manufactured for November is: A. $226,000
B. $218,000 C. $225,000 D.
$217,000

124. The adjusted cost of goods sold that appears on the income
statement for November is: A. $237,000
B. $225,000 C. $214,000 D.
$213,000

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Chapter 003, Systems Design: Job-Order Costing

The
Garnet Company uses a job-order costing system. The following data were
recorded for February:

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Overhead is charged to jobs
at the rate of 140% of direct labor cost. Jobs 1, 2, and 3 were completed
during February and transferred to finished goods. Job 3 has been delivered to
the customer.

125. The manufacturing costs added to jobs during the month totaled: A.
$8,250
B. $11,880 C. $12,500 D.
$15,180

126. The work in process inventory on February 28 was:

A. $7,310
B. $9,500

C. $3,950

D. $7,060

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