Chapter 16 Quit Version The following information is available: Estimated Factory Overhead for the year Estimated Direct Labor Hours for the year Actual Factory Overhead for the year Actual Direct Labor Hours for the year . $10,000 5,000 $9,500 5,010 golotto sml by im foto9 1. What is the application rate to be used by the company? A. $2.00 B. $1.89 C. $1.99 D. $2.01 2. What is the amount of the Applied Factory Overhead? A. $9,969.90 B. $10,020.00 C. $9,468.90 D. Not enough information 3. What is the closing entry for the Factory Overhead Account? A. $520 Overapplied brosso 1 B. $520 Underapplied wolalar to na moramo blago nominoz oyd sub 1078 16 obiado y shoz C. $50.10 Overapplied D. $551.10 Underapplied po 4. Total factory payroll paid was $60,000 of which $5,000 is indirect labor. What is the journal entry? A. FOH $65,000; Wages Payable $65,000 B. WIP $55,000; Wages Payable $60,000; FOH $5,000 5. The Cost of Goods Manufactured ($20,000 was transferred out of the factory. What is C. WIP $60,000, FOH $5,000; Cash $65,000 D. WIP $55,000; FOH 5,000; Cash $60,000 the journal entry? A. FG $20,000; WIP $20,000 B. FG $20,000; COGS $20,000 C. WIP $20,000; FG $20,000 D. COGM $20,000; FG $20,000 5. A job order cost system would be appropriate for Boeing Aircraft Corporation. A. True B. False aldsliss motrin wool 7. A staff department or unit is one indirectly involved in the basic objective of the organization. to 10H todo bom A. True 00222 1649 obserhavo nobis B. False 010 155yr sot nuo to ISOTA 8. Which of the following would record the labor costs to an individual job? FOTO Sisiw A. Time tickets oo 52 B. In and out cards 28.18 C. Punch card eta D. Payroll register 20.SE ontorno si to S 9. Which of the following would most likely be a period cost? a cae e A A. Depreciation on factory lunchroom furniture 00.000 B. Computer chips used by a computer manufacturer. C. Salary of a security guard for the factory parking lot e appe D. Commission of sales personel bousmonio To no solo A separate account for each material is found in a buildA A. General ledger bilan 3. Materials ledger balda Receiving report barobnu Job cost sheet OCHODOWE Chapter 16 Quit Version The following information is available: Estimated Factory Overhead for the year Estimated Direct Labor Hours for the year Actual Factory Overhead for the year Actual Direct Labor Hours for the year . $10,000 5,000 $9,500 5,010 golotto sml by im foto9 1. What is the application rate to be used by the company? A. $2.00 B. $1.89 C. $1.99 D. $2.01 2. What is the amount of the Applied Factory Overhead? A. $9,969.90 B. $10,020.00 C. $9,468.90 D. Not enough information 3. What is the closing entry for the Factory Overhead Account? A. $520 Overapplied brosso 1 B. $520 Underapplied wolalar to na moramo blago nominoz oyd sub 1078 16 obiado y shoz C. $50.10 Overapplied D. $551.10 Underapplied po 4. Total factory payroll paid was $60,000 of which $5,000 is indirect labor. What is the journal entry? A. FOH $65,000; Wages Payable $65,000 B. WIP $55,000; Wages Payable $60,000; FOH $5,000 5. The Cost of Goods Manufactured ($20,000 was transferred out of the factory. What is C. WIP $60,000, FOH $5,000; Cash $65,000 D. WIP $55,000; FOH 5,000; Cash $60,000 the journal entry? A. FG $20,000; WIP $20,000 B. FG $20,000; COGS $20,000 C. WIP $20,000; FG $20,000 D. COGM $20,000; FG $20,000 5. A job order cost system would be appropriate for Boeing Aircraft Corporation. A. True B. False aldsliss motrin wool 7. A staff department or unit is one indirectly involved in the basic objective of the organization. to 10H todo bom A. True 00222 1649 obserhavo nobis B. False 010 155yr sot nuo to ISOTA 8. Which of the following would record the labor costs to an individual job? FOTO Sisiw A. Time tickets oo 52 B. In and out cards 28.18 C. Punch card eta D. Payroll register 20.SE ontorno si to S 9. Which of the following would most likely be a period cost? a cae e A A. Depreciation on factory lunchroom furniture 00.000 B. Computer chips used by a computer manufacturer. C. Salary of a security guard for the factory parking lot e appe D. Commission of sales personel bousmonio To no solo A separate account for each material is found in a buildA A. General ledger bilan 3. Materials ledger balda Receiving report barobnu Job cost sheet OCHODOWE