1.The following information applies to Barcelona FC Ltd Work in process inventory, beginning of the year $ 9 000 Manufacturing overhead applied during the year $ 20 000 Work in process inventory, end of the year $ 14 000 Finished goods inventory, beginning of the year $ 7 500 Finished goods inventory, end of the year $ 5 000 Cost of goods sold during the year $ 75 000 Calculate the cost of goods manufactured during the year. Select one: $70 500 $72 500 $67 500 $62 500 .

2.

The following information applies to Barcelona FC Ltd

Work in process inventory, beginning of the year	$ 9 000
Manufacturing overhead applied during the year	$ 20 000
Work in process inventory, end of the year	$ 14 000
Under-applied manufacturing overhead		$ 2 000

What was the actual manufacturing overhead incurred during the year?

Select one:

$18 000

$20 000

$22 000

$16 000

Clear my choice

3.

ob costing for service entities is most likely to be used in situations where:

Select one:

customer contact is low.

the number of services produced is high.

the number of services produced is low.

there is significant back office involvement.

4.

In which of the following industries could process costing be used?

Select one:

Paper mills

Food processing

All of the given answers

Petroleum refining

5.

How is a predetermined overhead rate calculated?

Select one:

budgeted manufacturing overhead/ budgeted total expenses.

budgeted manufacturing overhead/budgeted amount of cost driver.

budgeted manufacturing overhead/budgeted amount of non-manufacturing overhead.

budgeted amount of cost driver/budgeted manufacturing overhead.

6.

Which of the following are components of conversion costs?

Select one:

Direct labour and direct materials.

Indirect materials and manufacturing overhead.

Direct labour and indirect labour.

Direct labour and manufacturing overhead.