q39

Cosi Company uses a job order costing system and allocates its overhead on thebasis of direct labor costs. Cosi expects to incur $800,000 of overhead during the next period, and expects to use 50,000 labor hours at a cost of $10.00 per hour. What is Cosi Company's overhead application rate?

q40

A company's sales in Year 1 were $250,000 and in Year 2 were $287,500. Using Year 1 as the base year, the percent change for Year 2 compared to the base year is:

q44

Clemmens Company applies overhead based on direct labor cost. Estimated overhead and direct labor costs for the year were $112,500 and $125,000, respectively. During the year, actual overhead was $107,400 and actual direct labor cost was $120,000. The entry to close the over- or underapplied overhead at year-end, assuming an immaterial amount, would include:

q48

Which of the following statements is true regarding product and period costs?

Multiple Choice

• Office salaries expense and factory maintenance are both product costs.
• Delivery expense is a product cost and indirect materials is a period cost.
• Factory rent is a product cost and advertising expense is a period cost.
• Sales commissions and indirect labor are both period costs.
• Office rent is a product cost and supervisors' salaries expense is a period cost.

B McGraw Hill Connect X Question 41 - Midterm - Connect X G are payroll cost direct labor - Goc X + X > C D ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/... . . . Midterm Saved Help Save & Exit Submit 41 Using the following accounts and an overhead rate of 90% of direct labor cost, determine the amount of applied overhead. Work in Process Inventory Beginning WIP 17, 60 Direct Materials 52, 800 01:46:47 Direct Labor Applied Overhead To Finished Goods Ending WIP 36, 080 Finished Goods Inventory Beginning FG 5, 200 201, 520 Ending FG Multiple Choice O $88,000. Mc Graw Hill Type here to search O 70OF Bewolkt ~ 0 ( 4.) 1:39 PM O 7/28/2021B McGraw Hill Connect X Question 42 - Midterm - Connect X G are payroll cost direct labor - Goc X + X -> C D ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/... > . . . Midterm Saved Help Save & Exit Submit The Marina Corp. has applied overhead to jobs during the period as follows: 42 Jobs finished and sold $ 46, 000 Jobs started and in process 54, 000 01:46:17 Jobs finished and unsold 100, 000 The application of overhead has resulted in a $5,600 credit balance in the Factory Overhead account, and this amount is not material. The entry to dispose of this remaining factory overhead balance is: Multiple Choice O Debit Factory Overhead $5,600; credit Work in Process Inventory $5,600. Mc Graw Hill Type here to search O 70OF Bewolkt ~ 0 ( 4.) 1:40 PM O 7/28/2021B McGraw Hill Connect X Question 45 - Midterm - Connect X G are payroll cost direct labor - Goc X + X > C D ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/... . . . Midterm i Saved Help Save & Exit Submit 45 Use the following selected information from Wheeler, LLC to determine the 2017 and 2016 common size percentages for operating expenses using Net sales as the base. 2017 2016 Net sales $276, 200 $231, 400 01:45:15 Cost of goods sold 151, 900 129, 590 Operating expenses 55, 240 53, 240 Net earnings 27, 820 19, 820 Multiple Choice O 55.0% for 2017 and 56.0% for 2016. 36.4% for 2017 and 41.1% for 2016. Mc Graw Hill Type here to search O 70OF Bewolkt ~ 0 ( 4:) 1:41 PM 7/28/2021