At the beginning of $2017,$ the Taylor Company's work in process inventory account had a balance of $$30,000.$ During $2017,$$$68,000$ of direct materials were used in production, and $$66,000$ of direct labe costs were incurred. Manufacturing overhead applied in $2017$ amounted to $$90,000.$ The cost of goo manufactured was $$220,000$ in $2017.$ The balance in work in process inventory on December $31,201$ is :

a$.$ $$34,000$

b$.$ $$24,000$

c$.$ $$66,000$

d$.$ $$6,000$

Selected data for the Young Company for $2017$ is presented below.

$\backslash$table$[[$Direct labor incurred,$30,000],[$Indirect labor incurred,$21,000],[$Factory depreciation,$5,000],[$Factory utilities,$7,000],[$Indirect materials used,$2,000],[$Direct materials used,$12,000],[$Property taxes on factory building,$3,000],[$Sales commissions,$8,000]]$

What is the manufacturing overhead incurred during $2017?$

a$.$ $$38,000$

b$.$ $$50,000$

c$.$ $$47,000$

d$.$ $$46,000$

The two basic types of costing systems are:

a$.$ job costing and process costing

b$.$ periodic costing and perpetual costing

c$.$ product costing and materials inventory costing

d$.$ periodic costing and process costing

Which costing system would better account for a unique individual product?

a$.$ job costing system

b$.$ process costing system

c$.$ product costing system

d$.$ overhead costing system

entry to record the purchase of materials on account using a job costing system woul

a$.$ credit to work in process inventory

b$.$ debit to accounts payable

c$.$ debit to materials inventory

d$.$ debit to work in process inventory

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