8/ The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $3,300 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $1,460 and direct labor cost of $820. Therefore, the amount of the applied overhead is:

Multiple Choice

$1,840.

$2,280.

$1,020.

$820.

$2,480.

9/ lemmens Company applies overhead based on direct labor cost. Estimated overhead and direct labor costs for the year were $116,500 and $125,400, respectively. During the year, actual overhead was $107,800 and actual direct labor cost was $116,700. The entry to close the over- or underapplied overhead at year-end, assuming an immaterial amount, would include (Round predetermined overhead rate to nearest whole percentage.):

Multiple Choice

A credit to Factory Overhead for $731.

A credit to Finished Goods Inventory for $731.

A debit to Work in Process Inventory for $731.

A credit to Cost of Goods Sold for $731.

A debit to Cost of Goods Sold for $731.

10/ The job order cost sheets used by Greene Company revealed the following:

Job. No.		Bal., May 1				May Production Costs
134		$	2,500			$	0
135			2,000				460
136			0				1,060

Job No. 135 was completed during May and Jobs No. 134 and 135 were shipped to customers in May. What was the company's cost of goods sold for May and the Work in Process inventory on May 31?

Multiple Choice

$4,960; $1,060.

$4,500; $2,000.

$2,000; $4,500.

$2,500; $1,540.

$6,020; $0.