1. Luebke Inc. has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $70,000 and at the end of the month was $31,800. The cost of goods manufactured for the month was $221,000. The actual manufacturing overhead cost incurred was $60,400 and the manufacturing overhead cost applied to Work in Process was $65,200. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear on the income statement for November is:

Multiple Choice

• $254,400

• $182,800

• $259,200

• $221,000

2. Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Process inventory account was $25,000 at the beginning of the month and $18,500 at the end of the month. During the month, the Corporation incurred direct materials cost of $55,600 and direct labor cost of $28,900. The actual manufacturing overhead cost incurred was $53,300. The manufacturing overhead cost applied to Work in Process was $51,600. The cost of goods manufactured for June was:

Garrison 16e Rechecks 2017-09-15

Multiple Choice

• $144,300.

• $142,600.

• $136,100.

• $137,800.

3. Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 22,140 hours and the total estimated manufacturing overhead was $580,068. At the end of the year, actual direct labor-hours for the year were 22,100 hours and the actual manufacturing overhead for the year was $580,068. Overhead at the end of the year was:

Multiple Choice

• $1,098 overapplied

• $1,098 underapplied

• $1,048 underapplied

• $1,048 overapplied

4. Weatherhead Inc. has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.

	Work In Process			Finished Goods			Cost of Goods Sold			Total
Direct materials	$	4,240		$	14,720		$	41,880		$	60,840
Direct labor		10,440			29,440			83,840			123,720
Manufacturing overhead applied		5,830			12,010			34,980			52,820
Total	$	20,510		$	56,170		$	160,700		$	237,380

Manufacturing overhead for the month was overapplied by $3,200.

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 of 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.)

Garrison 16e Rechecks 2017-08-28

Multiple Choice

• $20,229

• $20,747

• $20,818

• $20,158