136)
Craigmont Company’s direct materials costs are $3,000,000, its direct labor costs total $7,000,000,
and its factory overhead costs total $5,000,000. Its prime costs total:
A) $8,000,000.
B) $15,000,000.
C) $10,000,000.
D) $5,000,000.
E) $12,000,000.
137)
Craigmont Company’s direct materials costs are $3,000,000, its direct labor costs total $7,000,000,
and its factory overhead costs total $5,000,000. Its conversion costs total:
A) $12,000,000.
B) $5,000,000.
C) $15,000,000.
D) $10,000,000.
E) $8,000,000.
138)
A schedule of cost of goods manufactured is also known as a:
A)
Manufacturing statement.
B)
Cost of goods sold schedule.
C)
Raw materials processed schedule.
D)
Total finished goods statement.
E)
Factory supplies used schedule.
139)
The following information relates to the manufacturing operations of the JNR Printing Company
for the year:
Beginning
Ending
Raw materials inventory
$ 57,000
$60,000
Finished goods
68,000
60,000
The raw materials used in manufacturing during the year totaled $118,000. Raw materials purchased
during the year amount to:
A) $115,000. B) $121,000. C) $107,000. D) $118,000. E) $126,000.
Beginning
Ending
$ 547,000
$ 610.l000
140)
The following information relates to the manufacturing operations of the Abbra Publishing Company
for the year:
The raw materials used in manufacturing during the year totaled $1,018,000. Raw materials
purchased during the year amount to:
A) $955,000.
B) $892,000.
C) $1,081,000.
D) $408,000.
E) $1,565,000.
141)
Comet Company accumulated the following account information for the year:
Beginning raw materials inventory$6,000
Indirect materials cost
2,000
Indirect labor cost
5,000
Maintenance of factory equipment
2,800
Direct labor cost
7,000
Using the above information, total factory overhead costs would be:
A) $13,000. B) $9,800. C) $15,800. D) $7,800. E) $16,800.
142)
Asteroid Industries accumulated the following cost information for the year:
Direct materials
$16,000
Indirect materials
4,000
Indirect labor
8,500
Factory depreciation
12,800
Direct labor
37,000
Using the above information, total factory overhead costs would be:
A) $16,800. B) $53,000. C) $25,300. D) $78,300. E) $12,800.
143)
The following information is available for the year ended December 31:
Beginning raw materials inventory
$21,500
Raw materials purchases
74,000
Ending raw materials inventory
23,000
Office supplies expense
2,400
The amount of raw materials used in production for the year is:
A) $95,500. B) $76,400. C) $70,100. D) $74,900. E) $72,500.
144)
The following information is available for the year ended December 31:
Beginning raw materials inventory
$11,000
Raw materials purchases
86,000
Ending raw materials inventory
10,400
Manufacturing supplies expense
900
The amount of raw materials used in production for the year is:
A) $87,500. B) $86,600. C) $85,400. D) $86,900. E) $85,700.
145)
A financial report that summarizes the amounts and types of costs that were incurred in the
manufacturing process during the period is a:
A)
Managerial statement.
B)
Materials statement.
C)
Merchandise schedule.
D)
General-purpose statement.
E)
Schedule of cost of goods manufactured.
146)
If beginning and ending work in process inventories are $5,000 and $15,000, respectively, and cost
of goods manufactured is $170,000, what is the total manufacturing cost for the period?
A) $165,000. B) $180,000. C) $175,000. D) $160,000. E) $155,000.
147)
Using the information below for Singing Dolls, Inc., determine the total manufacturing costs incurred
during the year:
Work in Process, January 1
50,000
Work in Process, December 31
37,000
Direct materials used
$12,500
Total Factory overhead
5,500
Direct labor used
26,500
A) $13,000. B) $44,500. C) $89,000. D) $57,500. E) $94,500.
148)
Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the
year:
Work in Process, January 1
50,000
Work in Process, December 31
37,000
Total Factory overhead
5,500
Direct materials used
$12,500
Direct labor used
26,500
A) $44,500. B) $94,500. C) $13,000. D) $57,500. E) $52,000.
79
149)
Using the information below for Laurels Company; determine the manufacturing costs added
during the current year:
Direct materials used
$5,000
Direct Labor
7,000
Total Factory overhead
5,100
Beginning work in process
3,000
Ending work in process
4,000
A) $18,100. B) $17,100. C) $13,600. D) $12,000. E) $16,100.
150)
Using the information below for Laurels Company; determine the cost of goods manufactured
during the current year:
Direct materials used
$5,000
Direct Labor
7,000
Total Factory overhead
5,100
Beginning work in process
3,000
Ending work in process
4,000
A) $17,100. B) $16,100. C) $13,600. D) $12,000. E) $18,100.