Question 1

The predetermined overhead rate for the Forming Department is closest to:

Accepted Answer

A) $5.70 per machine-hour 
B) $7.70 per machine-hour 
C) $2.00 per machine-hour 
D) $18.70 per machine-hour 
A) $5.70 per machine-hour 
B) $7.70 per machine-hour 
C) $2.00 per machine-hour 
D) $18.70 per machine-hour

Question 2

Pebbles Corporation has two manufacturing departments--Casting and Finishing.The company used the following data at the beginning of the year to calculate predetermined overhead rates:   During the most recent month, the company started and completed two jobs--Job A and Job L.There were no beginning inventories.Data concerning those two jobs follow:   Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The total manufacturing cost assigned to Job L is closest to:

Accepted Answer

A) $9,600 
B) $6,200 
C) $28,904 
D) $13,104 
A) $9,600 
B) $6,200 
C) $28,904 
D) $13,104

Question 3

Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job A is closest to:

Accepted Answer

A) $27,595 
B) $87,752 
C) $82,785 
D) $55,190 
A) $27,595 
B) $87,752 
C) $82,785 
D) $55,190

Question 4

The appeal of using multiple departmental overhead rates is that they presumably provide a more accurate accounting of the costs caused by jobs.

Accepted Answer

A) True 
 B)False

Question 5

The predetermined overhead rate is closest to:

Accepted Answer

A) $1.80 per direct labor-hour 
B) $5.50 per direct labor-hour 
C) $9.20 per direct labor-hour 
D) $3.70 per direct labor-hour 
A) $1.80 per direct labor-hour 
B) $5.50 per direct labor-hour 
C) $9.20 per direct labor-hour 
D) $3.70 per direct labor-hour

Question 6

The estimated total manufacturing overhead is closest to:

Accepted Answer

A) $315,000 
B) $252,000 
C) $252,002 
D) $63,000 
A) $315,000 
B) $252,000 
C) $252,002 
D) $63,000

Question 7

The unit product cost for Job P978 is closest to:

Accepted Answer

A) $176.60 
B) $157.00 
C) $44.60 
D) $44.15 
A) $176.60 
B) $157.00 
C) $44.60 
D) $44.15

Question 8

Bassett Corporation has two production departments, Milling and Customizing.The company uses a job-order costing system and computes a predetermined overhead rate in each production department.The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours.At the beginning of the current year, the company had made the following estimates:   The predetermined overhead rate for the Milling Department is closest to:

Accepted Answer

A) $19.00 per machine-hour 
B) $2.10 per machine-hour 
C) $9.50 per machine-hour 
D) $7.40 per machine-hour 
A) $19.00 per machine-hour 
B) $2.10 per machine-hour 
C) $9.50 per machine-hour 
D) $7.40 per machine-hour

Question 9

Brothern Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year.Data for the most recently completed year appear below:   The predetermined overhead rate for the recently completed year was closest to:

Accepted Answer

A) $25.37 per machine-hour 
B) $27.13 per machine-hour 
C) $6.76 per machine-hour 
D) $20.37 per machine-hour 
A) $25.37 per machine-hour 
B) $27.13 per machine-hour 
C) $6.76 per machine-hour 
D) $20.37 per machine-hour

Question 10

The predetermined overhead rate for the Casting Department is closest to:

Accepted Answer

A) $9.70 per machine-hour 
B) $7.60 per machine-hour 
C) $2.10 per machine-hour 
D) $27.71 per machine-hour 
A) $9.70 per machine-hour 
B) $7.60 per machine-hour 
C) $2.10 per machine-hour 
D) $27.71 per machine-hour

Question 11

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job B is closest to:

Accepted Answer

A) $31,392 
B) $27,480 
C) $39,240 
D) $7,848 
A) $31,392 
B) $27,480 
C) $39,240 
D) $7,848

Question 12

Bernson Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $492,000 and 30,000 machine-hours for the period.The company incurred actual total fixed manufacturing overhead of $517,000 and 28,300 total machine-hours during the period.The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:

Accepted Answer

A) $464,120 
B) $492,000 
C) $487,703 
D) $25,000 
A) $464,120 
B) $492,000 
C) $487,703 
D) $25,000

Question 13

The estimated total manufacturing overhead is closest to:

Accepted Answer

A) $416,003 
B) $248,000 
C) $664,000 
D) $416,000 
A) $416,003 
B) $248,000 
C) $664,000 
D) $416,000

Question 14

The predetermined overhead rate is closest to:

Accepted Answer

A) $8.30 per machine-hour 
B) $11.40 per machine-hour 
C) $5.20 per machine-hour 
D) $3.10 per machine-hour 
A) $8.30 per machine-hour 
B) $11.40 per machine-hour 
C) $5.20 per machine-hour 
D) $3.10 per machine-hour

Question 15

The estimated total manufacturing overhead is closest to:

Accepted Answer

A) $120,000 
B) $96,003 
C) $96,000 
D) $216,000 
A) $120,000 
B) $96,003 
C) $96,000 
D) $216,000

Question 16

The total job cost for Job P951 is closest to:

Accepted Answer

A) $4,540 
B) $4,755 
C) $1,295 
D) $5,295 
A) $4,540 
B) $4,755 
C) $1,295 
D) $5,295

Question 17

The total job cost for Job X455 is closest to:

Accepted Answer

A) $3,972 
B) $1,732 
C) $3,180 
D) $3,032 
A) $3,972 
B) $1,732 
C) $3,180 
D) $3,032

Question 18

If the company marks up its manufacturing costs by 20% then the selling price for Job A319 would be closest to:

Accepted Answer

A) $5,042.00 
B) $4,584.00 
C) $3,820.00 
D) $764.00 
A) $5,042.00 
B) $4,584.00 
C) $3,820.00 
D) $764.00

Question 19

The predetermined overhead rate for the Finishing Department is closest to:

Accepted Answer

A) $8.80 per direct labor-hour 
B) $3.98 per direct labor-hour 
C) $12.60 per direct labor-hour 
D) $3.80 per direct labor-hour 
A) $8.80 per direct labor-hour 
B) $3.98 per direct labor-hour 
C) $12.60 per direct labor-hour 
D) $3.80 per direct labor-hour

Question 20

Boward Corporation has two production departments, Milling and Assembly.The company uses a job-order costing system and computes a predetermined overhead rate in each production department.The Milling Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours.At the beginning of the current year, the company had made the following estimates:   During the current month the company started and finished Job T818.The following data were recorded for this job:   The total amount of overhead applied in both departments to Job T818 is closest to:

Accepted Answer

A) $1,651 
B) $608 
C) $435 
D) $1,043 
A) $1,651 
B) $608 
C) $435 
D) $1,043

The predetermined overhead rate for the Forming Department is closest to:

Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices.The calculated selling price for Job A is closest to:

The appeal of using multiple departmental overhead rates is that they presumably provide a more accurate accounting of the costs caused by jobs.

The predetermined overhead rate is closest to:

The estimated total manufacturing overhead is closest to:

The unit product cost for Job P978 is closest to:

Brothern Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year.Data for the most recently completed year appear below: The predetermined overhead rate for the recently completed year was closest to:

The predetermined overhead rate for the Casting Department is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job B is closest to:

The estimated total manufacturing overhead is closest to:

The predetermined overhead rate is closest to:

The estimated total manufacturing overhead is closest to:

The total job cost for Job P951 is closest to:

The total job cost for Job X455 is closest to:

If the company marks up its manufacturing costs by 20% then the selling price for Job A319 would be closest to:

The predetermined overhead rate for the Finishing Department is closest to:

Managerial Accounting and Cost Concepts

Job-Order Costing: Cost Flows and External Reporting

Activity-Based Costing

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Master Budgeting

Performance Measurement in Decentralized Organizations

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Flexible Budgets Standard Costs and Variance Analysis

Statement of Cash Flows

Financial Statement Analysis

Job-Order Costing: Cost Flows and External Reporting

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Flexible Budgets, Standard Costs, and Variance Analysis

Flexible Budgets, Standard Costs, and Variance Analysis

A Capital Budgeting Decisions

A Statement of Cash Flows

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Exam 2: Job-Order Costing: Calculating Unit Product Costs

The predetermined overhead rate for the Forming Department is closest to:

The appeal of using multiple departmental overhead rates is that they presumably provide a more accurate accounting of the costs caused by jobs.

The predetermined overhead rate is closest to:

The estimated total manufacturing overhead is closest to:

The unit product cost for Job P978 is closest to:

Brothern Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year.Data for the most recently completed year appear below: The predetermined overhead rate for the recently completed year was closest to:

The predetermined overhead rate for the Casting Department is closest to:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.The amount of manufacturing overhead applied to Job B is closest to:

The estimated total manufacturing overhead is closest to:

The predetermined overhead rate is closest to:

The estimated total manufacturing overhead is closest to:

The total job cost for Job P951 is closest to:

The total job cost for Job X455 is closest to:

If the company marks up its manufacturing costs by 20% then the selling price for Job A319 would be closest to:

The predetermined overhead rate for the Finishing Department is closest to:

Managerial Accounting and Cost Concepts

Job-Order Costing: Cost Flows and External Reporting

Activity-Based Costing

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Variable Costing and Segment Reporting: Tools for Management

Master Budgeting

Performance Measurement in Decentralized Organizations

Differential Analysis: The Key to Decision Making

Capital Budgeting Decisions

Flexible Budgets Standard Costs and Variance Analysis

Statement of Cash Flows

Financial Statement Analysis

Job-Order Costing: Cost Flows and External Reporting

Process Costing6 Cost-Volume-Profit Relationships

Cost-Volume-Profit Relationships

Flexible Budgets, Standard Costs, and Variance Analysis

Flexible Budgets, Standard Costs, and Variance Analysis

A Capital Budgeting Decisions

A Statement of Cash Flows

Filters