Chapter 003, Systems Design: Job-Order Costing

| October 3, 2018

96. The credits to the Work in Process account as a consequence of the
raw materials transactions in July total:
A. $49,000 B. $53,000 C. $0

D. $44,000

97. The debits to the Manufacturing Overhead account as a consequence
of the raw materials transactions in July total:
A. $44,000 B. $5,000 C. $0

D. $49,000

98. The credits to the Manufacturing Overhead account as a consequence
of the raw materials transactions in July total:
A. $0

B. $5,000 C. $49,000 D.
$44,000

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Chapter 003, Systems Design: Job-Order Costing

On
April 1, Bachler Corporation had $37,000 of raw materials on hand. During the
month, the company purchased an additional $75,000 of raw materials. During
April, $88,000 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 $6,000.

100. The journal entry to record the purchase of raw materials would
include a: A. credit to Raw Materials of $112,000
B. credit to Raw Materials of $75,000 C. debit to Raw Materials of
$75,000 D. debit to Raw Materials of $112,000

101. The journal entry to record the requisition from the storeroom
would include a: A. credit to Manufacturing Overhead of $6,000
B. debit to Raw Materials of $88,000 C. debit to Work in Process
of $82,000 D. debit to Work in Process of $88,000

During August, Sherill
Corporation incurred $78,000 of actual Manufacturing Overhead costs. During the
same period, the Manufacturing Overhead applied to Work in Process was $81,000.

102. The journal entry to record the incurrence of the actual
Manufacturing Overhead costs would include a:

A. debit to Manufacturing Overhead of $78,000

B. credit to Work in Process of $81,000

C. credit to Manufacturing Overhead of $78,000

D. debit to Work in Process of $81,000

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Chapter 003, Systems Design: Job-Order Costing

103. The journal entry to record the application of Manufacturing Overhead
to Work in Process would include a:
A. credit to Work in Process of $78,000
B. debit to Manufacturing Overhead of $81,000

C. credit to Manufacturing Overhead of $81,000

D. debit to Work in Process of $78,000

The
following partially completed T-accounts summarize last year’s transactions for
Kelshaw Company.

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At the end of the year, the company closes out the balance in the
Manufacturing Overhead account to Cost of Goods Sold.

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Chapter 003, Systems Design: Job-Order Costing

104. The indirect labor cost is: A. $5,000
B. $12,000 C. $15,000 D.
$35,000

105. The cost of goods manufactured is: A. $56,000
B. $50,000 C. $61,000 D.
$55,000

106. The cost of goods sold (after adjustment for underapplied or
overapplied overhead) is: A. $55,000
B. $51,000 C. $54,000 D.
$56,000

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