#23

The following accounts are from last years books at Sharp Manufacturing:

Raw Materials
Bal	0	(b)	156,600
(a)	170,500
	13,900

Work In Process
Bal	0	(f)	520,400
(b)	133,300
(c)	170,600
(e)	216,500
	0

Finished Goods
Bal	0	(g)	473,000
(f)	520,400
	47,400

Manufacturing Overhead
(b)	23,300	(e)	216,500
(c)	27,300
(d)	158,600
			7,300

Cost of Goods Sold
(g)	473,000

Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the manufacturing overapplied or underapplied for the year?

Multiple Choice

• $7,300 underapplied

• $7,300 overapplied

• $27,300 underapplied

• $27,300 overapplied

#28

The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year:

Raw Materials
Beg Bal	4,950		8,900
	5,150

Work in Process
Beg Bal	4,050		22,150
	6,150
	8,450
	8,250

Finished Goods
Beg Bal	2,150		20,350
	22,150

Manufacturing Overhead
	2,750		8,250
	3,450
	3,150

Wages & Salaries Payable
	20,350	Beg Bal	2,450
			11,900

Cost of Goods Sold
Beg Bal	20,350

The manufacturing overhead applied was:

Multiple Choice

• $3,150

• $3,450

• $8,250

• $14,600