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Question 9 (1 point) Under Lamprey Company's job-order costing system, manufacturing overhead is applied to Work in Process inventory using a predetermined overhead rate. During
Question 9 (1 point) Under Lamprey Company's job-order costing system, manufacturing overhead is applied to Work in Process inventory using a predetermined overhead rate. During January, Lamprey's transactions included the following: Direct materials issued to $ 90,000 production Indirect materials issued to $ 8,000 production Manufacturing overhead cost incurred $125,000 Manufacturing overhead cost $113,000 applied Direct labour cost incurred $107.000 Lamprey Company had no beginning or ending inventories. What was the cost of goods manufactured for January? O A) $302.000 B) $310.000 C) $322.000 D) $330,000 Use the following information for questions 10. & 11. The following journal entries (without dollar data were taken from the accounting records of Case Company. Case Company has a job-order costing system and applies overhead to jobs using a predetermined overhead rate. Work in Process XXX Manufacturing XXX Overhead Wages Payable XXX Salary Expense XXX Wages Payable XXX Manufacturing XXX Overhead Accumulated XXX Amortization Work in Process XXX Raw Materials XXX Work in Process xxx Manufacturing XXX Overhead Manufacturing XXX Overhead Raw Materials XXX Finished Goods Work in Process XXX XXX Overhead Raw Materials XXX XXX XXX Finished Goods Work in Process Raw Materials Accounts Payable XXX XXX Question 10 (1 point) Which entry transfers the cost of goods manufactured for the period? O A 1. B) 4. OC 7. D) 5. Question 11 (1 point) Which entry records the application of overhead? OA) 1. B) 5. O C) 6. D) 3. Use the following information for questions 12. & 13. Summit Company has provided the following inventory balances and manufacturing cost data for the month of January: Inventories January January 31 Direct Materials $30,000 $40,000 Work in $15,000 $20,000 Process Finished Goods $65,000 $50,000 Month of January Cost of goods $515,000 manufactured Manufacturing $150,000 overhead applied Direct materials used $190,000 Actual manufacturing $144,000 overhead Under Summit's job-order costing system, any over-or underapplied overhead is Question 12 (1 point) What was the total amount of direct material purchases during January? A) $180,000 B) $190.000 C) $195,000 D) $200,000 Question 13 (1 point) How much direct labour cost was incurred during January? A) $170,000. B) $175,000 C) $180,000 D) $186,000
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