Q1 Cull Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $458,800, variable manufacturing overhead of $3.00 per machine-hour, and 74,000 machine-hours. The company has provided the following data concerning Job X455 which was recently completed:

Number of units in the job		10
Total machine-hours		80
Direct materials	$	780
Direct labor cost	$	1,560

If the company marks up its unit product costs by 20% then the selling price for a unit in Job X455 is closest to: (Round your intermediate calculations to 2 decimal places.)

Garrison 16e Rechecks 2017-06-22

Multiple Choice

• $389.12

• $307.60

• $61.52

• $369.12

Q2 Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $240,300 and 4,740 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $245,000 and actual direct labor-hours were 4,620.

The predetermined overhead rate for the year was closest to:

Multiple Choice

• $53.03

• $49.41

• $50.70

• $51.69

Q3 Luebke Inc. has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $64,000 and at the end of the month was $31,200. The cost of goods manufactured for the month was $218,000. The actual manufacturing overhead cost incurred was $58,600 and the manufacturing overhead cost applied to Work in Process was $62,800. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear on the income statement for November is:

Multiple Choice

• $246,600

• $185,200

• $250,800

• $218,000

Q4

Multiple Choice

• $20,800

• $22,600

• $43,400

• $9,500

Q5 Weatherhead Inc. has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.

	Work In Process			Finished Goods			Cost of Goods Sold			Total
Direct materials	$	4,240		$	14,740		$	41,580		$	60,560
Direct labor		9,840			29,480			83,880			123,200
Manufacturing overhead applied		5,860			10,660			35,060			51,580
Total	$	19,940		$	54,880		$	160,520		$	235,340

Manufacturing overhead for the month was overapplied by $4,700.

The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts.

The work in process inventory at the end of March after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to: Round intermediate percentage computations to the nearest whole percent.)

Garrison 16e Rechecks 2017-08-28

Multiple Choice

• $19,494

• $20,012

• $20,083

• $19,423

The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Beg Bal Raw Materials 5,400 5,600 9,800 Beg Bal 22,600 Work in Process 4,500 6,600 8,900 8,700 Beg Bal Finished Goods 2,600 22,600 20,800 8,700 Manufacturing Overhead 3,200 3,900 3,600 Wages & Salaries Payable 20,800 Beg Bal Cost of Goods Sold 20,800 Beg Bal 2,900 12,800 The Cost of Goods Manufactured was