| | $80 per machine hour On January 15, $168,000 of direct materials were requisitioned for production of Job 350. From the following, select the correct journal entry to record the transaction on the day the materials were requisitioned by the production department. Question 12 options: | | Jan 15 Work in Process 168,000 Factory Overhead 168,000 | | | Jan 15 Work in Process 168,000 Cash 168,000 | | | Jan 15 Materials 168,000 Work in Process 168,000 | | | Jan 15 Work in Process 168,000 Materials 168,000 A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $675,000 and direct labor hours would be 45,000. Actual factory overhead costs incurred were $725,000, and actual direct labor hours were 48,000. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? Question 13 options: | | $5,000 underapplied | | | $45,000 overapplied | | | $45,000 underapplied | | | $5,000 overpplied Department R had 5,000 units in work in process that were 85% completed as to conversion cost at the beginning of the period, 30,000 units of direct materials were added during the period, 32,000 units were completed during the period, and 3,000 units were 60% completed as to conversion cost at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was: Question 14 options: | | 29,450 units | | | 29,550 units | | | 33,050 units | | | 32,550 units The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: | Work in process, April 1, 5,000 units: | | | Direct materials cost, for 5,000 units | $ 8,000 | | Conversion costs, for 5,000 units, 66.7% completed | $ 6,000 | | | | | Direct materials added during April, 10,000 units | $ 38,000 | | Conversion costs during April | $ 31,000 | | Goods finished during April, 13,000 units | --- | | April 30 work in process, 2,000 units, 50% completed | --- | | | | All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The direct materials cost per equivalent unit for April is: Question 15 options: | | $2.92 per unit | | | $3.80 per unit | | | $2.53 per unit | | | $3.00 per unit Mocha Company manufactures a single product by a continuous process, involving two production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $50,000, $60,000, and $70,000, respectively. The journal entry to record the flow of costs into Department 1 during the period for applied factory overhead is: Question 16 options: | | Factory Overhead--Department 1 70,000 Wages Payable 70,000 | | | Work in Process--Department 1 150,000 Factory Overhead--Department 1 150,000 | | | Work in Process--Department 1 70,000 Factory Overhead--Department 1 70,000 | | | Factory Overhead--Department 1 150,000 Work in Process--Department 1 150,000 *Given the following cost and activity observations for Bounty Companys utilities, Bounty variable utilities costs per machine hour is equal to: | | Total Cost | Machine Hours | | March | $6,200 | | 30,000 | | | April | 5,400 | | 20,000 | | | May | 5,800 | | 24,000 | | | June | 7,200 | | 36,000 | | Question 17 options: | | $0.11 | | | $10.00 | | | $0.27 | | | $0.20 Flying Cloud Co. has the following operating data for its manufacturing operations: | Unit selling price | $ 350 | | Unit variable cost | $ 100 | | Total fixed costs | $980,000 | The company has decided to increase the wages of hourly workers which will increase the unit variable cost by 10%. Increases in the salaries of factory supervisors and property taxes for the factory will increase fixed costs by 5%. If sales prices are held constant, the next break-even point for Flying Cloud Co. will be: Question 19 options: | | increased by 368 units | | | increased by 132 units | | | decreased by 264 units | | | decreased by 368 units Bobby Co. sells two products, X and Y. Last year, Bobby sold 18,000 units of X's and 12,000 units of Y's. The unit selling price, variable cost per unit, and contribution margin per unit for the companys two products are provided below. | Product | Selling Price | Variable Cost per unit | Contribution Margin per unit | | X | $180 | $100 | $80 | | Y | $100 | $60 | $40 | Assuming that last years fixed costs totaled $160,000. What was Bobby Co's break-even point in units of enterprise product "E"? Question 20 options: | | 2,000 units | | | 2,857 units | | | 2,500 units | | | 6,000 units If fixed costs are $1,500,000 ; the unit selling price is $250, and the unit variable costs are $130, what is the amount of sales (in units) required to realize an income from operations of $200,000? Question 22 options: | | 16,000 units | | | 12,500 units | | | 11,538 units | | | 14,167 units If the costs for direct materials, direct labor, and factory overhead were $522,200, $82,700, and $45,300, respectively, for 16,000 equivalent units of conversion costs, the conversion cost per equivalent unit was $8.00 Question 21 options: | | | | | | | | | |
