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1. Chris Corporation uses a predetermined overhead rate based on machine-hours that it recalculates at the beginning of each year. The company has provided the

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1. Chris Corporation uses a predetermined overhead rate based on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year. The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to: A) $644,670 B) $684,000 C) $68,000 D) $580,580 2. Albert Corporation had $24,000 of raw materials on hand on April 1. During the month, the Corporation purchased an additional $52,000 of raw materials. During April. $62,000 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 $2,000. The debits to the Work in Process account as a consequence of the raw materials transactions in April total: A) $60,000 B) $62,000 3. Accountants R Us used a predetermined overhead rate this year of $2 per direct labor-hour, based on an estimate of 20,000 direct labor-hours to be worked during the year. Actual costs and activity during the year were: The overapplied or underapplied manufacturing for the year was: A) $1,000 underapplied B) $1,000 overapplied C) $3,000 underapplied D) $3,000 overapplied Rockford Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding errors, carry out all computations to at least three decimal places. 4. How many units are in ending work in process inventory in the first processing department at the end of the month? A) 7,600 B) 900 C) 1,700 D) 1,200 5. What are the equivalent units for conversion costs for the month in the first processing department? A) 9,200 B) 8,520 C) 7,500 D) 1,020 6. The cost per equivalent unit for materials for the month in the first processing department is closest to: A) $21.44 B) $21.96 C) $20.25

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