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No need explanation, just give me the answer 1. Manufacturing overhead costs allocated to a job amounted to $490,000. The actual manufacturing overhead costs incurred

No need explanation, just give me the answer

1. Manufacturing overhead costs allocated to a job amounted to $490,000. The actual manufacturing overhead costs incurred during the year were $550,000. Overhead costs have been underallocated.

True

False

2. Belstone, Inc. is a merchandiser of stone ornaments. It sold 15,000 units during the year. The company has provided the following information:

Sales Revenue

$540,000

Purchases (excluding Freight In)

330,000

Selling and Administrative Expenses

35,500

Freight In

15,500

Beginning Merchandise Inventory

42,500

Ending Merchandise Inventory

56,500

How much is the gross profit for the year?

A. $210,000

B. $244,000

C. $331,500

D. $208,500

3. The cost of materials for beginning workinprocess is $10,300. Materials costs added during the period were $131,700. The equivalent units of production for materials is 55,000 units. Using the weightedaverage method, what is the cost per equivalent unit for materials?

A. $3.58

B. $2.39

C. $0.19

D. $ 2.58

4. The journal entry to issue $800 of direct materials and $80 of indirect materials to production involves debit(s) to the ________.

A. WorkinProcess Inventory account for $800 and Manufacturing Overhead account for $80

B. WorkinProcess Inventory account for $880

C. Manufacturing Overhead account for $880

D. WorkinProcess Inventory account for $800 and Finished Goods Inventory account for

5. The following information was obtained from Moreau Manufacturing, Inc.:

Advertising Costs

$9,500

Indirect Labor

84,000

CEO's Salary

620,000

Direct Labor

45,000

Indirect Materials Used

4,000

Direct Materials Used

62,000

Factory Utilities

720

Factory Janitorial Costs

2,800

Manufacturing Equipment Depreciation

3,000

Delivery Vehicle Depreciation

2,500

Administrative Wages and Salaries

22,000

Calculate Moreau Manufacturing's total product costs.

A. $195,000

B. $654,000

C. $201,520

D. $107,000

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