In comparison to a general accounting system, a cost accounting system for a manufacturing company places an emphasis on: Multiple Choice C) Periodic inventory counts. 0 Total costs. tots conta Continually updating costs of materials, work in process, and finished goods inventories continually 0 Products and average costs. 0 0 Large volume operations involving standardized products The amount by which the overhead applied to jobs during a period exceeds the overhead incurred during the period is known as: Multiple Choice o Adjusted overhead. o Estimated overhead o Predetermined overhead. o Underapplied overhead. o O Overapplied overhead. The Work in Process Inventory account for DG Manufacturing follows Compute the cost of jobs completed and transferred to Finished Goods Inventory Work in Process Inventory 4,700 47, 300 20 000 16.000 Beginning WIP Direct materials Direct labor Applied Overhead Total Manufacturing costs To Finished Goods Ending WIP 97,000 9, 300 The cost of units transferred to finished goods is: Multiple Choice O so7 . o o o of , Osnoo O saa . O st 9 M C - Job was ordered by a customer on September 25 During the month of needed and $200 of dem a nd a nal director of balance in the Work in Process account the end of September relative to Job Ag Jaycee Corporation required 2300 m the job in October. The company applies over and used 300 oferecibo The y thand of the montbut the end of each month at a rate of 200% of the direct be continuare What is the 1 o o o o of 1 1 1 Lowden Company has an overhead application rate of and allocates overhead Lowden Company should record in the current period ctmat e d cost $85.000 Damine theme ! o O ssias o o sto00 o O ss o or creceber costs Cos t to incur 60.000 of overhead during the Con Company how border costing waterdices its ved CO CO and on Mango Comparty copies overhead based on direct labor consFor the current yea Mage Company estimated total overhead costs to be 5482.000 and actual director costs tot 5250.000 Ayew and Factory Overhead account is 0.000. and direct labor costs to be 5230.000. Actual overhead costs for O O 0 DO O Underscored by SM4000 O Overlied by S000 C Muhid 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 ! ! 0 Cose the $2.500 10 Cost of Goods Sold 0 s e the $2.500 to Finished Goods Inventory 0 O Do nothing about the $2.500, since it is not materia d by the next year 0 carry the $2,500 to the income Other Expense! 0 Carry the $2,500 to the next period, A job cost sheet includes: Multiple Choice O Direct materials, direct labor, operating costs. 0 Direct materials, estimated overhead, administrative costs. 0 Direct labor, actual overhead, selling costs. 0 Direct material, direct labor, applied overhead. 0 Direct materials, direct labor, selling costs. Portside Watercses border costro tem Dung payroll of $95.000 of which $25.000 was indectabat Port mot Portside purchased $73.000 afr r eten overhead o i n om credit of r of 164000 try to record the issuance of 24000 were indirect. Porte production is the 0 t to verbory S162.000 cont de 0 Det W Processinemory SW0.000, debit Factory Orted $34.000 crew 0 Debit Run M 000, net en retory 195.000 0 Det 4000 400 0 Debe Fred Goods wery 0000, credit raw sweter0.000
