Jana Supplies applies manufacturing overhead costs to products at a budgeted indirect-cost rate of $80 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order. Estimates for this order include: Direct materials $40,000 and 500 direct manufacturing labor-hours at $20 per hour. Manufacturing overhead cost estimates for this special orde total:

a. $10,000

b. $40,000

c. $36,000

d. $30,000 For October 2020, Wasim Manufacturing company reported cost of goods available for sale $750,000, gross profit $212,000 and finished goods beginning $30,000. The cost of goods manufactured is: Select one:

a. $932,000.

b. $962,000.

c. $242,000.

d. $720,000.

3. XYZ Company uses job costing system. The appropriate journal entry if $100,000 of materials were purchased on account for the month of January 2021 is:

a. Work-in-Process Control debit $100,000 and Accounts Payable Control credit $100,000.

b. Manufacturing Overhead Control debit $100,000 and Accounts Receivable Control credit $100,000.

c. Materials Control debit $100,000 and Accounts Payable Control credit $100,000.

d. Manufacturing Allocated debit $100,000 and Accounts Receivable Control credit $100,000.