21)Copy Center pays an average wage of $12 per hour to employees for printing and copying jobs, and allocates $18 of overhead for each employee hour worked. Materials are assigned to each job according to actual cost. If Job M-47 used $350 of materials and took 20 hours of labor to complete, what is the total cost that should be assigned to the job?

Multiple Choice

$590

$600

$380

$950

$710

22)Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams estimated total overhead of $396,000; materials of $410,000 and direct labor of $220,000. During the year Adams incurred $418,000 in materials costs, $413,200 in overhead costs and $224,000 in direct labor costs. Compute the amount of under- or overapplied overhead for the year.

Multiple Choice

$10,000 overapplied.

$17,200 overapplied.

$10,000 underapplied.

$17,200 underapplied.

$4,800 underapplied.

23)At the current year-end, Simply Company found that its overhead was underapplied by $2,500, and this amount was not considered material. Based on this information, Simply should:

Multiple Choice

Close the $2,500 to Cost of Goods Sold.

Close the $2,500 to Finished Goods Inventory.

Do nothing about the $2,500, since it is not material, and it is likely that overhead will be overapplied by the same amount next year.

Carry the $2,500 to the income statement as "Other Expense".

Carry the $2,500 to the next period.

24)Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department:

Equivalent units of productiondirect materials		110,000	EUP
Equivalent units of productionconversion		95,000	EUP
Costs in beginning Work in Processdirect materials	$	49,000
Costs in beginning Work in Processconversion	$	36,000
Costs incurred in Februarydirect materials	$	414,000
Costs incurred in Februaryconversion		520,000

The cost per equivalent unit of production for conversion is:

Multiple Choice

$9.26

$4.21

$5.85

$5.05

$4.97

25) During December, the production department of a process operations system completed and transferred to finished goods a total of 65,000 units of product. At the end of March, 15,000 additional units were in process in the production department and were 80% complete with respect to materials. The beginning inventory included materials cost of $57,500 and the production department incurred direct materials cost of $183,000 during December. Compute the direct materials cost per equivalent unit for the department using the weighted-average method.

Multiple Choice

$3.70.

$2.38.

$2.82.

$3.12.

$4.79.

26)A company's beginning Work in Process inventory consisted of 20,000 units that were 80% complete with respect to direct labor. A total of 90,000 were finished during the period and 25,000 remaining in Work in Process inventory were 40% complete with respect to direct labor at the end of the period. Using the weighted-average method, the equivalent units of production with regard to direct labor were:

Multiple Choice

46,000.

100,000.

76,000.

90,000.

116,000.

27)Equivalent units of production are equal to:

Multiple Choice

The number of units that could have been started and completed given the costs incurred during the period.

The number of finished units actually produced during a period.

The number of units started into the process during a period.

The number of units still in process at the end of a period.

Physical units that were started and completed during a period.

28)K Company estimates that overhead costs for the next year will be $3,000,000 for indirect labor and $810,000 for factory utilities. The company uses direct labor hours as its overhead allocation base. If 75,000 direct labor hours are planned for this next year, what is the company's plantwide overhead rate?

Multiple Choice

$0.02 per direct labor hour.

$50.80 per direct labor hour.

$40.00 per direct labor hour.

$10.80 per direct labor hour.

$0.09 per direct labor hour.

29)Peterson Company estimates that overhead costs for the next year will be $3,600,000 for indirect labor and $880,000 for factory utilities. The company uses machine hours as its overhead allocation base. If 125,000 machine hours are planned for this next year, what is the company's plantwide overhead rate? (Round your answer to two decimal places.)

Multiple Choice

$0.03 per machine hour.

$35.84 per machine hour.

$28.30 per machine hour.

$7.04 per machine hour.

$0.14 per machine hour.

30)A company estimates that overhead costs for the next year will be $8,440,000 for indirect labor and $161,500 for factory utilities. The company uses machine hours as its overhead allocation base. If 460,000 machine hours are planned for this next year, what is the company's plantwide overhead rate? (Round your answer to two decimal places.)

Multiple Choice

$0.05 per machine hour.

$18.70 per machine hour.

$18.35 per machine hour.

$0.35 per machine hour.

$2.85 per machine hour.