Exam 2: Job Order Costing

Blueberry Corp.uses a job order costing system with manufacturing overhead applied to products on the basis of machine hours.For the upcoming year,Blueberry Corp.estimated total manufacturing overhead cost at $270,000 and total machine hours of 45,000.During the year actual manufacturing overhead incurred was $258,750 and 46,600 machine hours were used. a.Calculate the predetermined overhead rate. b.Calculate how much manufacturing overhead will be applied to production. c.Is overhead over- or underapplied? By how much? d.What account should be adjusted for over- or underapplied overhead? Should the balance be increased or decreased?

Cost of goods manufactured is the amount of cost transferred:

If materials being placed into production are not traced to a specific job,debit:

Overhead costs are overapplied if the amount applied to Work in Process is:

McGown Corp.has the following information: Additional information for the year is as follows: Compute the cost of goods manufactured.

When disposed of,overapplied manufacturing overhead will:

Curtis Inc.uses a job order costing system.Manufacturing overhead is applied on the basis of direct labor cost.Total manufacturing overhead was estimated to be $75,000 for the year;direct labor was estimated to total $150,000. The following transactions have occurred during the year. a.Calculate the predetermined overhead rate. b.Calculate cost of goods manufactured. c.Calculate the over- or underapplied overhead. d.Calculate adjusted cost of goods sold.

Ecola Company uses a job order costing system.Manufacturing overhead is applied on the basis of direct labor cost.Total manufacturing overhead was estimated to be $120,000 for the year;direct labor was estimated to total $150,000. The following transactions have occurred during the year. a.Calculate the predetermined overhead rate. b.Calculate cost of goods manufactured. c.Calculate the over or under-applied overhead. d.Calculate adjusted cost of goods sold.

When direct materials are used in production (as noted by a materials requisition form),which of the following accounts is credited?

Which of the following would be used to record the labor cost that is traceable to a specific job?

A predetermined overhead rate is calculated by dividing:

The total manufacturing cost for a job includes the amount of applied overhead using the predetermined overhead rate.

When units are sold,the cost associated with the units is credited to which account?

Which of the following statements is correct?

Indirect materials are recorded directly on the job cost sheet.

When manufacturing overhead is applied to production,which of the following accounts is credited?

The Cost of Goods Manufactured Report includes all of the following except:

McGown Corp.has the following information: Additional information for the year is as follows: Compute the direct materials used in production.

Russo Cabinets is a custom cabinet builder.They recently completed a set of kitchen cabinets (Job Number 1887),as summarized below: Russo applies overhead to jobs at a rate of $18 per direct labor hour. a.How much overhead would be applied to Job #1887? b.What is the total cost of Job #1887?

Barone Inc.uses a job order costing system with manufacturing overhead applied to products at a rate of 100% of direct labor cost.Treating each case independently,find the missing amounts for a through l: