1.

	Case (A)				Case (B)				Case (C)
Beginning Balance (BB)		?			$	23,000			$	7,900
Ending Balance (EB)	$	67,000				19,200				8,300
Transferred In (TI)		149,600				97,700				?
Transferred Out (TO)		164,600				?				21,100

For Case (C) above, what is the amount Transferred In (TI)?

a.) $12,800.

b.) $20,700.

c.) $21,500.

d.)$29,400.

2.

	Case (A)				Case (B)				Case (C)
Beginning Balance (BB)	$	36,520			$	15,100			$	5,600
Ending Balance (EB)		?				11,400				12,200
Transferred In (TI)		166,200				?				68,400
Transferred Out (TO)		164,400				93,200				?

For Case (A) above, what is the Ending Balance (EB)?

a.) $36,920.

b.) $36,520.

c.) $34,720.

d.) $38,320.

3.

MegaRock produces quick setting concrete mix. Production of 200,000 tons was started in April, 190,000 tons were completed. Material costs were $3,152,000 for the month while conversion costs were $591,000. There was no beginning work-in-process; the ending work-in-process was 70% complete. What is the cost of the product that was completed and transferred to finished goods?

a.) $3,610,000.

b.) $3,555,850.

c.) $2,994,400.

d.) $3,743,000.

4. MegaRock produces quick setting concrete mix. Production of 200,000 tons was started in April, 190,000 tons were completed. Material costs were $3,152,000 for the month while conversion costs were $591,000. There was no beginning work-in-process; the ending work-in-process was 70% complete. What is the cost of the product that remains in work-in-process?

a.) $591,000.

b.) $131,005.

c.) $187,150.

d.) $133,000.

5.QuikCard processes credit card receipts for local banks. QuikCard processed 1,400,000 receipts in October. All receipts are processed the same day they are received. October costs were labor of $14,000 and overhead of $28,000. What is the cost to process 1,000 receipts?

a.) $10.00.

b.) $30.00.

c.) $20.00.

d.) $42.00.

6. The following information has been gathered for the Harrell Manufacturing Company for its fiscal year ending December 31:

Top of Form

Actual manufacturing overhead costs	$	212,500
Actual direct labor hours		54,900
Actual direct labor costs	$	445,000
Estimated manufacturing overhead costs	$	210,000
Estimated direct labor	$	434,000
Estimated direct labor hours		56,000

What is the predetermined manufacturing overhead rate, assuming direct labor cost is used as the activity base?

a.) 48.4%.

b.) 47.2%.

c.) 49.0%.

d.) 47.8%.

7.The Bondi Company uses a predetermined overhead rate in applying overhead to production orders on a direct labor cost basis in Department A and on a machine hours basis in Department B. At the beginning of the year, the company made the following estimates:

	Dept. A				Dept. B
Direct labor cost	$	60,000			$	40,000
Factory overhead	$	90,000			$	45,000
Direct labor hours		6,000				9,000
Machine hours		2,000				15,000

What predetermined overhead rate would be used in Department A and Department B, respectively?

a.) 150% and 300%.

b.) 150% and $3.00.

c.) $1.50 and 300%.

d.) $1.50 and $3.00.

8.The following direct labor information pertains to the manufacture of product Scour:

Time required to make one unit		2	direct labor hours
Number of direct workers		50
Number of productive hours per week, per worker		40
Weekly wages per worker	$	500
Workers benefits treated as direct labor costs		20	% of wages

What is the standard direct labor cost per unit of product Scour? (CPA adapted)

a.) $30.

b.) $24.

c.) $15.

d.) $12.

9.The following information has been gathered for Foxmoor Industries for its fiscal year ending December 31:

Estimated factory overhead costs	$	1,500,000
Actual factory overhead costs	$	1,776,400
Estimated labor hours		48,000
Actual labor hours		51,700
Estimated labor costs	$	756,000
Actual labor costs	$	840,125
Estimated machine hours		96,000
Actual machine hours		102,600

What is the predetermined factory overhead rate per labor dollar?

a.) 178.54%.

b.) 211.44%.

c.) 118.43%.

d.) 198.41%.

10.Buster Corporation, a manufacturing company, has provided data concerning its operations for September. The beginning balance in the raw materials account was $37,000 and the ending balance was $29,000. Raw materials purchases during the month totaled $57,000. Manufacturing overhead cost incurred during the month was $102,000, of which $2,000 consisted of raw materials classified as indirect materials. The direct materials cost for September was:

a.) $63,000.

b.) $57,000.

c.) $65,000.

d.) $49,000.