1. NewCo. is a manufacturer that employs the job-order costing system. The job-cost sheet for order number 11, which was started and completed in March, indicated that $40 of materials, 20 hours of direct labor, $100 of direct labor, and 10 machine hours were charged to the job. Order number 11 included 98 units. NewCo. applies overhead based on direct labor hours. For March, all direct labor was charged at the same rate, and NewCos direct labor rate variance was $0. Additional information for March is as follows:

Budgeted direct labor cost	$18,000
Budgeted overhead	39,600
Actual direct labor cost	17,200
Actual overhead	35,000

How much overhead should be applied to order number 11?

$220

$194

$204

$230

2. X, Inc.'s costs for June were

Overhead applied	$379,500
Cost of goods manufactured	977,500
Overhead incurred	395,600

Finished goods inventory was $358,800 on June 1 and $409,400 on June 30. If X, Inc. closes over- or underapplied overhead to cost of goods sold, what is cost of goods sold for June?

$943,000

$910,800

$993,600

$961,400

3. Snipe Inc. incurred actual overhead of $201,600 and applied overhead of $210,000. Snipe has supplied the following data relating to its inventories:

	Jan. 1	Dec. 31
Direct materials	$42,000	$56,000
Work-in-process	21,000	28,000
Finished goods	91,000	70,000

If cost of goods manufactured was $721,000, what would cost of goods sold be, assuming under- or overapplied overhead is allocated to inventories and cost of goods sold?

$713,580

$733,600

$749,420

$734,580

4. Acme uses a job-order cost system. A predetermined overhead rate based upon direct labor hours is used to apply overhead costs. Any over- or underapplied overhead is allocated by the theoretically correct method (proration in proportion to overhead in inventory accounts).

Actual conversion costs were 200% of direct materials used.
Inventories before adjustment:	Dec. 1	Dec. 31
Direct materials	$ 50,000	$ 70,000
Work-in-process	50,000	80,000
Finished goods	140,000	120,000
Other data before adjustment:	Month of Dec.
Cost of goods sold	$600,000
Overhead applied	200,000
Prime costs	410,000
Actual overhead	220,000

What was the cost of inventory transferred to finished goods prior to the closing entry for overhead allocation for December?

$650,000

$630,000

$620,000

$580,000

5. Skink transferred $90,000 of materials to its production department and incurred $35,000 and $20,000 of direct labor and overhead costs, respectively. At year end, $24,000 of inventory remained in process, and cost of goods manufactured was $153,000. What was the beginning work-in-process?

$52,000

$32,000

$8,000

$177,000