Question
Question 4.4. (TCO 1) Which of the following is an inventoriable product cost? (Points : 7) Commissions paid on each unit sold Depreciation on factory
Question 4.4. (TCO 1) Which of the following is an inventoriable product cost? (Points : 7)
Commissions paid on each unit sold
Depreciation on factory equipment
Cost of shipping products
Rent for the headquarters office building
Question 5.5. (TCO 1) Which of the following is a variable cost? (Points : 7)
Interest paid on the headquarters office building
Electricity used to run factory machinery
Advertising costs
Rent for the factory
Question 6.6. (TCO 1) Which of the following is a conversion cost? (Points : 7)
The salary of the CEO
Indirect materials cost
Direct materials cost
Depreciation on accounting office equipment
Question 7.7. (TCO 1) On December 31, 2015, SLE Inc. has a balance in theFinished Goods Inventory account of $55,000. On January 1, 2015, the balance in the Finished Goods Inventory account was $33,000. On December 31, 2015, the balance in the Work-in-Process inventory account is $10,000. On January 1, 2015, the balance in the Work-in-Process inventory account is $16,000. Cost of goods manufactured is $210,000. How much is cost of goods sold? (Points : 7)
$188,000
$204,000
$216,000
$232,000
Question 8.8. (TCO 2) Which of the companies below would be most likely to not use job-order costing? (Points : 7)
A contract printer
A custom boat builder
A chemical manufacturer
A specialty coffee roaster
Question 9.9. (TCO 2) Cindy Company applies manufacturing overhead based on labor hours. Information concerning manufacturing overhead cost and hours for August follows. Estimated Actual Overhead cost $300,000 $200,000 Direct labor hours 25,000 30,000 Machine hours 15,000 20,000 How much is the predetermined overhead rate? (Points : 7)
$12.00
$6.66
$20.00
$10.00
Question 10.10. (TCO 2) During 2015, Wendy Company applied overhead using a job-order costing system at a rate of $16 per direct labor hour. Estimated direct labor hours for the year were 110,000, and estimated overhead for the year was $1,760,000. Actual direct labor hours for 2015 were 140,000, and actual overhead was $2,120,000. What is the amount of under- or over-applied overhead for the year? (Points : 7)
$360,000 under-applied
$360,000 over-applied
$120,000 over-applied
$120,000 under-applied
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