The following data have been recorded for recently completed Job 674 on its job cost sheet. Direct materials cost was $2,039. A total of 32 direct labor-hours and 175 machine-hours were worked on the job. The direct labor wage rate is $14 per labor-hour. The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $15 per machine-hour. The total cost for the job on its job cost sheet would be: A. $2,487 B. $2,068 C. $5,112 D. $2,967 The journal entry to record the incurrence of indirect labor costs is: A. B. C. D. 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: Lamprey Company had no beginning or ending inventories. What was the cost of goods manufactured for January? A. $322,000 B. $302,000 C. $310,000 D. $330,000 Vandagriff Corporation has provided data concerning the company's Manufacturing Overhead account for the month of June. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $77,000 and the total of the credits to the account was $64,000. Which of the following statements is true? A. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $77,000. B. Manufacturing overhead applied to Work in Process for the month was $64,000. C. Manufacturing overhead for the month was overapplied by $13,000. D. Actual manufacturing overhead incurred during the month was $64,000. Variable cost: A. increases on a per unit basis as the number of units produced increases. B. remains constant on a per unit basis as the number of units produced increases. C. remains the same in total as production increases. D. decreases on a per unit basis as the number of units produced increases. Wedd Corporation had $35,000 of raw materials on hand on May 1. During the month, the company purchased an additional $68,000 of raw materials. During May, $92,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $5,000. The debits to the Work in Process account as a consequence of the raw materials transactions in May total: A. $92,000 B. $0 C. $68,000 D. $87,000 Wert Corporation uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. Last year, the company's estimated manufacturing overhead was $1,200,000 and its estimated level of activity was 50,000 direct labor-hours. The company's direct labor wage rate is $12 per hour. Actual manufacturing overhead amounted to $1,240,000, with actual direct labor cost of $650,000. For the year, manufacturing overhead was: A. overapplied by $40,000 B. underapplied by $44,000 C. underapplied by $60,000 D. overapplied by $60,000 Which of the following costs would not be included as part of manufacturing overhead? A. Direct labor overtime premium. B. Depreciation of production equipment. C. Lubricants for production equipment. D. Insurance on sales vehicles. Which of the following would probably be the least appropriate allocation base for allocating overhead in a highly automated manufacturer of specialty valves? A. Machine-hours B. Power consumption C. Direct labor-hours D. Machine setups Within the relevant range, variable cost per unit will: A. none of these. B. decrease as the level of activity increases. C. increase as the level of activity increases. D. remain constant. Yista Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The company estimated manufacturing overhead at $510,000 for the year and direct labor-hours at 100,000 hours. Actual manufacturing overhead costs incurred during the year totaled $540,000. Actual direct labor-hours were 105,000. What was the overapplied or underapplied overhead for the year? A. $30,000 overapplied B. $4,500 overapplied C. $4,500 underapplied D. $30,000 underapplied