Question 1

Which of the following would be used to record the factory supervisor's salary?

Accepted Answer

The factory supervisor's salary is an indirect cost of production and is therefore part of manufacturing overhead. Manufacturing Overhead is debited to record these costs as they are incurred.

Question 2

Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $415,000,and actual labor hours were 21,000.Which of the following would be correct?

Accepted Answer

The answer of Manufacturing overhead was estimated to be $400,000...

Question 3

Which of the following would be used to record the usage of indirect manufacturing resources?

Accepted Answer

Indirect manufacturing resources, such as factory utilities and equipment maintenance costs, are allocated to products through manufacturing overhead. Therefore, recording the usage of indirect manufacturing resources would increase the Manufacturing Overhead account, and therefore, choice C is the correct answer. The other options, Raw Materials Inventory, Work in Process Inventory, and a credit to Manufacturing Overhead, are all incorrect as they do not reflect the allocation of indirect manufacturing resources.

Question 4

Which of the following would be used to apply manufacturing overhead to production for the period?

Accepted Answer

Manufacturing overhead is applied to the goods being produced by debiting the Work in Process Inventory account. This reflects the allocation of indirect production costs to the products being manufactured.

Question 5

Overhead was estimated to be $250,000 for the year along with 20,000 direct labor hours.Actual overhead was $225,000,and actual direct labor hours were 19,000.The amount debited to the manufacturing overhead account would be

Accepted Answer

The answer of Overhead was estimated to be $250,000 for...

Question 6

Which of the following would be used to transfer the cost of completed goods during the period?

Accepted Answer

The cost of completed goods during the period is transferred from Work in Process Inventory to Finished Goods Inventory through a credit entry to Work in Process Inventory.

Question 7

Which of the following would be used to apply manufacturing overhead to production for the period?

Accepted Answer

Manufacturing overhead is applied to production through a credit to the Manufacturing Overhead account. This process allocates the indirect costs of production to the goods being produced, moving the costs from the overhead account to where they will next be applied, typically to the Work in Process Inventory account.

Question 8

Which of the following would be used to record the depreciation of manufacturing equipment?

Accepted Answer

Depreciation of manufacturing equipment would be recorded as an expense in the Manufacturing Overhead account, which is debited.

Question 9

Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $215,000,and actual labor hours were 21,000.The amount credited to the Manufacturing Overhead account would be

Accepted Answer

The answer of Manufacturing overhead was estimated to be $200,000...

Question 10

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

Accepted Answer

Overhead costs are overapplied when the amount applied is greater than the actual overhead incurred. Therefore, the best choice is C.

Question 11

Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $215,000,and actual labor hours were 21,000.Which of the following would be correct?

Accepted Answer

The overhead is underapplied when the actual overhead costs exceed the estimated overhead costs applied to the products. The estimated overhead rate is $200,000 / 20,000 hours = $10 per hour. With 21,000 actual labor hours, the applied overhead would be 21,000 hours * $10/hour = $210,000. Since the actual overhead was $215,000, it is underapplied by $215,000 - $210,000 = $5,000.

Question 12

Which of the following would be used to record the labor cost that is not traceable to a specific job?

Accepted Answer

Labor cost that cannot be directly traced to a specific job is considered indirect labor and is recorded in the Manufacturing Overhead account. Therefore, Manufacturing Overhead would be debited to record this cost. Choices A, B, and D are incorrect because they are not the appropriate accounts to record indirect labor cost.

Question 13

Which of the following would be used to record the property taxes on a factory building?

Accepted Answer

Property taxes on a factory building would be recorded as part of the manufacturing overhead costs, as they are indirect expenses related to the production process. Therefore, Manufacturing Overhead would be debited to record the property taxes.

Question 14

If a company uses a predetermined overhead rate,which of the following statements is correct?

Accepted Answer

The answer of If a company uses a predetermined overhead...

Question 15

Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $415,000,and actual labor hours were 21,000.The amount credited to the Manufacturing Overhead account would be

Accepted Answer

The answer of Manufacturing overhead was estimated to be $400,000...

Question 16

Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $415,000,and actual labor hours were 21,000.The amount debited to the Manufacturing Overhead account would be

Accepted Answer

The amount debited to the Manufacturing Overhead account is the actual manufacturing overhead incurred, which is $415,000.

Question 17

Manufacturing overhead was estimated to be $250,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $225,000,and actual direct labor hours were 19,000.The amount credited to the Manufacturing Overhead account would be

Accepted Answer

The answer of Manufacturing overhead was estimated to be $250,000...

Question 18

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

Accepted Answer

Overhead costs are underapplied if the amount applied to Work in Process is less (or lower) than the actual overhead incurred.

Question 19

Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $215,000,and actual labor hours were 21,000.The amount debited to the Manufacturing Overhead account would be

Accepted Answer

The amount debited to the Manufacturing Overhead account is the actual manufacturing overhead incurred, which is $215,000.

Question 20

Which of the following accounts is not affected by applied manufacturing overhead?

Accepted Answer

Raw Materials Inventory is not affected by applied manufacturing overhead as it pertains to the costs associated with the manufacturing process, and raw materials are considered a separate category of inventory.

Quiz 2: Job Order Costing

Which of the following would be used to record the factory supervisor's salary?

Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $415,000,and actual labor hours were 21,000.Which of the following would be correct?

Which of the following would be used to record the usage of indirect manufacturing resources?

Which of the following would be used to apply manufacturing overhead to production for the period?

Overhead was estimated to be $250,000 for the year along with 20,000 direct labor hours.Actual overhead was $225,000,and actual direct labor hours were 19,000.The amount debited to the manufacturing overhead account would be

Which of the following would be used to transfer the cost of completed goods during the period?

Which of the following would be used to apply manufacturing overhead to production for the period?

Which of the following would be used to record the depreciation of manufacturing equipment?

Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $215,000,and actual labor hours were 21,000.The amount credited to the Manufacturing Overhead account would be

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

Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $215,000,and actual labor hours were 21,000.Which of the following would be correct?

Which of the following would be used to record the labor cost that is not traceable to a specific job?

Which of the following would be used to record the property taxes on a factory building?

If a company uses a predetermined overhead rate,which of the following statements is correct?

Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $415,000,and actual labor hours were 21,000.The amount credited to the Manufacturing Overhead account would be

Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $415,000,and actual labor hours were 21,000.The amount debited to the Manufacturing Overhead account would be

Manufacturing overhead was estimated to be $250,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $225,000,and actual direct labor hours were 19,000.The amount credited to the Manufacturing Overhead account would be

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

Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours.Actual manufacturing overhead was $215,000,and actual labor hours were 21,000.The amount debited to the Manufacturing Overhead account would be

Which of the following accounts is not affected by applied manufacturing overhead?