Question 15 (5 points) Listen Use the following information to compute the cost of goods sold for the period: Work-in-Process $30,000 $50,000 $44,000 Finished Goods $36,000 Beginning Balance Transfers In Transfers Out Ending Balance 2 $30,000 $6,000 $56,000 $44,000 $50,000 Question 16 (5 points) Listen Woodman Company uses a predetermined overhead rate based on direct labor-hours to allocate manufacturing overhead to jobs. Estimated and actual data for direct labor and manufacturing overhead for last year are as follows: Estimated Actual Direct labor-hours..... 600,000 550,000 Manufacturing overhead $720,000 $680,000 The manufacturing overhead for Woodman Company for last year was: overallocated by $40,000 underallocated by $20,000 underallocated by 540,000 overallocated by $20,000 Question 17 (5 points) Listen Lauren Fine Clothing manufactures clothes for professional women. Lauren applies overhead at the rate of $15 per direct labor hour. During April, the company had budgeted 9,420 direct labor hours. At the end of April, 9,200 direct labor hours and S132,670 in manufacturing overhead had been incurred. To adjust for the difference between applied and incurred overhead, journal entry the firm should record is (using write-off approach): Debit MOH and Credit Cost of Goods Sold by 5,330 Debit Cost of Goods Sold and Credit MOH Sold by 3,330 Debit MOH and Credit Cost of Goods Sold by 3,330 Debit Cost of Goods Sold and Credit MOH Sold by 5,330 Question 18 (5 points) 4 Listen Bovous Stores, Inc., sells several products. Information of average revenue and costs is as follows: Selling price per unit $20.00 Variable costs per unit: Direct material $4.00 Direct manufacturing labor $1.60 Manufacturing overhead S0.40 Selling costs 52.00 Annual fixed costs $96,000 The revenues that the company must earn annually to make a profit of $144,000 are: Question 20 (5 points) Listen Dobles Corporation has provided the following data from its activity-based costing system: Activity Cost Pool Total Cost Total Activity Assembly... $228,060 18,000 machine-hours Processing orders........... $34,068 1,200 orders Inspection $288,960 1.720 inspection-hours The company makes 420 units of product D28K a year, requiring a total of 460 machine-hours, 80 orders, and 10 inspection-hours per year. The product's direct materials cost is $48.96 per unit and its direct labor cost is $25.36 per unit. According to the activity-based costing system, the average cost of product D28K is closest to