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1. Underapplied or overapplied manufacturing overhead is calculated as the difference between applied manufacturing overhead and estimated manufacturing overhead. True False 2. A product lines

1. Underapplied or overapplied manufacturing overhead is calculated as the difference between applied manufacturing overhead and estimated manufacturing overhead.

True

False

2. A product lines contribution margin represents its contribution to paying off variable costs and to generating a profit.

True

False

3. Assume G Corporation had ending Finished Goods Inventory of $36,850 and Cost of Goods Sold of $120,280 and beginning Finished Goods Inventory of $38,620. What was the dollar amount of Cost of Goods Manufactured for the period?

$44,810

$195,750

$122,050

$118,510

$157,130

4. If Product Z costs for the current period were $30,000 for direct materials and $40,000 for direct labor and $15,000 for overhead, then the per unit cost of manufacturing 5,000 units this period was how much?

$18

$6

$14

$11

$17

5. For the year, D Corporation estimated manufacturing overhead to be $310,000. Actual manufacturing overhead was $306,900. Estimated direct labor hours were 12,400. Actual direct labor hours were 15,500. Using this information, which of the following would be the companys overhead application rate based on direct labor hours?

$25.00 per labor hour

$20.00 per labor hour

$24.75 per labor hour

$22.28 per labor hour

$19.80 per labor hour

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