Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which one of the folowing items is normally not a manufacturing cost? Multiple Choice Direct materials. Factory overhead O O General and administrative expenses. Direct
Which one of the folowing items is normally not a manufacturing cost? Multiple Choice Direct materials. Factory overhead O O General and administrative expenses. Direct labor. Conversion cost Using the information below, caiculate gross profit for the period: Beginning Ra Materials Inventory 2, 000 Ending Raw Materials Inventory Beginning Work in Process Inventory 55,000 Ending Hork in Process Inventory Beginning Finished Gooda Inventory Ending Finished Goods Inventory Cost of Coods Sold for the period sales revenues for the period Operating expenses for the period 30,000 64,000 80,000 67,000 540,000 1,254,000 232,000 Mult pie Choice $714,000 $482,000 1,022,000 $187000. $727000 Use the following data to compute total factory overhead costs for the month: Sales comaissions Direct labor Indirect materials Factory manager salaries Factory aupplies Indirect labor $10, 800 39,600 15,200 7,200 9,000 6,300 Depreciation office equipment ,000 Direct naterials Corporate office salaries Depreciation-factory equipment7,500 40,500 42,500 Multiple Choice $141,100. $125,300 O $45,200 . $84.800. $58,300 Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $440,000, and direct labor costs to be $2,200,000. Actual overhead costs for the year totaled $410,000, and actual direct labor costs totaled $1,900,000. At year-end, Factory Overhead is: Multiple Choice Overapplied by $30,000. Overapplied by $205,000. Underapplied by $30,000. Overapplied by $60,000. Neither overapplied nor underapplied
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started