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The following accounts are from last years books at Sharp Manufacturing: Raw Materials 156,200 Bal 169,500 13,300 Hork In Process 518,800 Bal 133,100 170,200 215,500 Pinished Goods 0 (g) 518,800 Bal 71,000 47,800 Manufacturing Overhead 23,100 (e) 215,500 27,100 158,200 7,100 Cost of Goods Sel 471,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct lebor costs. What is the Multiple Choice $7100 underapplied $7100 overapplied $27300 underapplied 27300 overapplied The following accounts are from last year's books of Sharp Manufacturing: Raw Materials Bal 154,400 165,000 10,600 ork In Process Bal 01(f) 132,200 168,400 511,600 calculat 211,000 Pinished Goods Bal 462,000 511,600 49,600 Kanufacturing Overhead 22,200 (e) 211,000 26,200 156,400 6,200 Cost of Goods Sold 462,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of direct materials used for the year? Multiple Choice $165,000 $154,400 $132,200 $168,400 Weatherhead Inc. has provided the ollowing data for the month of March. There were no beginning Inventorles; consequently,the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Cost of Work In Pinished Goods Goods Sold 4,240 $14,740 41,740 60,720 Process Total Direct materials Direct labor 10,160 29,480 83,880 123,520 Manufacturing overhead applied 5,860 11,380 35,060 52,300 Total $20,260 $55,600 $160,680 $236,540 Manufacturing overhead for the month was overapplied by $3,900. The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts. The work in process Inventory at the end o f March after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to: (Round intermediate percentage computations to the nearest whole percent.) Multiple Choice $19,902 $20,420 $20,491 $19,831 Tyare Corporation had the following Inventory balances at the beginning and end of May May 1May 30 $30,000 $39,000 Finished Goods $79,500 $75,000 Raw materials Work in Process $18,000 $17,193 During May. $63,000 In raw materials (all direct materials) were drawn from Inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paild its direct labor workers $15 per hour. A total of 390 hours of direct labor time had been expended on the jobs in the beginning Work in Process nventory account. The ending Work in Process inventory account contained $7.500 of direct materials cost. The Corporation incurred $43,350 of actual manufecturing overheed cost during the month and applied manufacturing overheed cost. $42,300 in The actual direct labor-hours worked during May totaled Multiple Choice 2,890 hours 3,613 hours 3,525 hours 4,680 hours
