2-135
50.
At the beginning of December, Sneeden Corporation had $32,000 of raw materials on
hand. During the month, the Corporation purchased an additional $71,000 of raw
materials. During December, $75,000 of raw materials were requisitioned from the
storeroom for use in production. The credits entered in the Raw Materials account during
the month of December total:
2-136
51.
On February 1, Manwill Corporation had $24,000 of raw materials on hand. During the
month, the Corporation purchased an additional $60,000 of raw materials. During
February, $54,000 of raw materials were requisitioned from the storeroom for use in
production. The debits entered in the Raw Materials account during the month of February
total:
2-137
52.
Donham Corporation had $25,000 of raw materials on hand on May 1. During the month,
the Corporation purchased an additional $65,000 of raw materials. During May, $66,000 of
raw materials were requisitioned from the storeroom for use in production. These raw
materials included both direct and indirect materials. The indirect materials totaled $4,000.
The debits to the Work in Process account as a consequence of the raw materials
transactions in May total:
2-138
53.
During February at Iniquez Corporation, $79,000 of raw materials were requisitioned from
the storeroom for use in production. These raw materials included both direct and indirect
materials. The indirect materials totaled $4,000. The journal entry to record the requisition
from the storeroom would include a:
2-139
54.
Epolito Corporation incurred $87,000 of actual Manufacturing Overhead costs during
September. During the same period, the Manufacturing Overhead applied to Work in
Process was $89,000. The journal entry to record the incurrence of the actual
Manufacturing Overhead costs would include a:
2-140
55.
Traves Corporation incurred $69,000 of actual Manufacturing Overhead costs during
October. During the same period, the Manufacturing Overhead applied to Work in Process
was $68,000. The journal entry to record the application of Manufacturing Overhead to
Work in Process would include a:
2-141
56.
During October, Beidleman Inc. transferred $52,000 from Work in Process to Finished
Goods and recorded a Cost of Goods Sold of $55,000. The journal entries to record these
transactions would include a:
2-142
57.
In July, Essinger Inc. incurred $72,000 of direct labor costs and $3,000 of indirect labor
costs. The journal entry to record the accrual of these wages would include a:
2-143
58.
During May at Shatswell Corporation, $57,000 of raw materials were requisitioned from
the storeroom for use in production. These raw materials included both direct and indirect
materials. The indirect materials totaled $7,000. The journal entry to record this requisition
would include a debit to Manufacturing Overhead of:
2-144
59.
Which of the following entries or sets of entries would record sales for the month of July of
$200,000 for goods costing $119,000 for?
2-145
60.
Bretthauer Corporation has provided data concerning the Corporation’s Manufacturing
Overhead account for the month of July. Prior to the closing of the overapplied or
underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing
Overhead account was $51,000 and the total of the credits to the account was $64,000.
Which of the following statements is true?
2-146
61.
Arvay Corporation has provided data concerning the Corporation’s Manufacturing
Overhead account for the month of October. Prior to the closing of the overapplied or
underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing
Overhead account was $62,000 and the total of the credits to the account was $52,000.
Which of the following statements is true?
62.
Kaleohano Corporation has provided data concerning the Corporation’s Manufacturing
Overhead account for the month of July. Prior to the closing of the overapplied or
underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing
Overhead account was $62,000 and the total of the credits to the account was $73,000.
Which of the following statements is true?
2-148
63.
The following accounts are from last year’s books of Sharp Manufacturing:
Raw Materials
Bal
0
(b)
87,000
(a)
93,000
6,000
Work In Process
Bal
0
(f)
251,000
(b)
69,000
(c)
82,000
(e)
100,000
0
Finished Goods
Bal
0
(g)
226,000
(f)
251,000
25,000
Manufacturing Overhead
(b)
18,000
(e)
100,000
(c)
12,000
(d)
67,000
(h)
3,000
3,000
Cost of Goods Sold
2-149
(g)
226,000
(h)
3,000
223,000
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct
labor costs. What is the amount of direct materials used for the year?
2-150
64.
The following accounts are from last year’s books at Sharp Manufacturing:
Raw Materials
Bal
0
(b)
87,000
(a)
93,000
5,000
Work In Process
Bal
0
(f)
251,000
(b)
69,000
(c)
82,000
(e)
100,000
0
Finished Goods
Bal
0
(g)
226,000
(f)
251,000
25,000
Manufacturing Overhead
(b)
18,000
(e)
100,000
(c)
12,000
(d)
67,000
(h)
3,000
3,000
Cost of Goods Sold
(g)
226,000
(h)
3,000
223,000
2-151
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct
labor costs. What is the amount of cost of goods manufactured for the year?
2-152
65.
Compute the amount of raw materials used during August if $25,000 of raw materials were
purchased during the month and the inventories were as follows:
Balance
Balance
Inventories
August 1
August 31
Raw Materials
$5,000
$3,000
Work in process
$13,000
$16,000
Finished goods
$25,000
$27,000
2-153
66.
The following accounts are from last year’s books at Sharp Manufacturing:
Raw Materials
Bal
0
(b)
87,000
(a)
93,000
5,000
Work In Process
Bal
0
(f)
251,000
(b)
69,000
(c)
82,000
(e)
100,000
0
Finished Goods
Bal
0
(g)
226,000
(f)
251,000
25,000
Manufacturing Overhead
2-154
(b)
18,000
(e)
100,000
(c)
12,000
(d)
67,000
(h)
3,000
3,000
Cost of Goods Sold
(g)
226,000
(h)
3,000
223,000
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct
labor costs. What is the manufacturing overapplied or underapplied for the year?