[tlo1979]

During the month of August, Ross MotorCo applied overhead to jobs using an overhead rate of $0.80 per dollar of direct labor. Direct labor in August was $138,000. Estimated overhead in August was $112,800. Actual overhead was composed of the following items:




Indirect materials $ 16,400


Indirect labor 24,900


Utilities 24,500


Depreciation 38,700


Repair expense 13,500


Total $118,000




How much will be recorded as a debit to Work in Process for overhead during the year for Ross MotorCo?

[tlo1979]

If the balance in the Finished Goods Inventory account is increased by $34,000 during the period and the cost of goods manufactured was $321,000, how much is cost of goods sold?
Answer a. $287,000
b. $321,000
c. $355,000
d. Not enough information is provided
.

[tlo1979]

Title Audio manufactures industrial sound systems and employs a job-order costing system. During June, Title Audio’s transactions and accounts included the following:


Raw materials purchased $126,000


Direct labor cost incurred 34,000


Total manufacturing overhead applied 42,100


Raw materials inventory, beginning 12,500


Raw materials inventory, ending 11,600


Finished goods inventory, beginning 10,400


Work in process inventory, beginning 13,000


Work in process inventory, ending 14,100


Total manufacturing overhead incurred 44,300




How much is the cost of direct materials issued to production during June?


a. $126,900
b.$126,000
c. $125,100
d. None of these answer choices are correct
.

[tlo1979]

If the balance in the Finished Goods Inventory account is increased by $34,000 during the period and the cost of goods manufactured was $321,000, how much is cost of goods sold?
Answer a. $287,000
b. $321,000
c. $355,000
d. Not enough information is provided

[Curlyben]

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