81) Dipaola Corporation has provided the following data concerning last month’s operations.
Purchases of raw materials
$
26,000
Indirect materials included in manufacturing overhead
$
6,000
Direct labor cost
$
58,000
Manufacturing overhead applied to Work in Process
$
87,000
Overapplied overhead
$
6,000
Beginning
Ending
Raw materials inventory
$
12,000
$
18,000
Work in process inventory
$
46,000
$
64,000
Finished goods inventory
$
31,000
$
46,000
How much is the direct materials cost for the month on the Schedule of Cost of Goods
Manufactured?
A) $38,000
B) $32,000
C) $14,000
D) $26,000
Direct materials:
Beginning raw materials inventory
$
12,000
Add: Purchases of raw materials
26,000
Total raw materials available
38,000
Deduct: Ending raw materials inventory
18,000
Raw materials used in production
20,000
overhead
Direct materials
$
14,000
82) Emigh Corporation’s cost of goods manufactured for the just completed month was $146,000
and its overhead was overapplied by $5,000. The beginning finished goods inventory was $35,000
and the ending finished goods inventory was $37,000.The company closes out any underapplied or
overapplied manufacturing overhead to cost of goods sold. How much was the adjusted cost of
goods sold on the Schedule of Cost of Goods Sold?
A) $144,000
B) $146,000
C) $181,000
D) $139,000
83) Luebke Inc. has provided the following data for the month of November. The balance in the
Finished Goods inventory account at the beginning of the month was $52,000 and at the end of the
month was $30,000. The cost of goods manufactured for the month was $212,000. The actual
manufacturing overhead cost incurred was $55,000 and the manufacturing overhead cost applied
to Work in Process was $58,000. The company closes out any underapplied or overapplied
manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear
on the income statement for November is:
A) $231,000
B) $190,000
C) $234,000
D) $212,000
64
84) Able Corporation uses a job-order costing system. In reviewing its records at the end of the
year, the company has discovered that $2,000 of raw materials has been drawn from the storeroom
and used in the production of Job 110, but that no entry has been made in the accounting records
for the use of these materials. Job 110 has been completed but it is unsold at year end. This error
will cause:
A) Work in Process to be understated by $2,000 at year end.
B) Cost of Goods Manufactured to be overstated by $2,000 for the year.
C) Finished Goods to be understated by $2,000 at the end of the year.
D) Cost of Goods Sold to be overstated by $2,000 for the year.
85) Frankin Corporation has provided the following data concerning last month’s operations.
Purchases of raw materials
$
26,000
Indirect materials included in manufacturing overhead
$
6,000
Direct labor cost
$
58,000
Manufacturing overhead applied to Work in Process
$
97,000
Beginning
Ending
Raw materials inventory
$
11,000
$
17,000
Work in process inventory
$
52,000
$
66,000
How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods
Manufactured?
A) $175,000
B) $221,000
C) $155,000
D) $169,000
86) Rediger Inc., a manufacturing Corporation, has provided the following data for the month of
June. The balance in the Work in Process inventory account was $22,000 at the beginning of the
month and $17,000 at the end of the month. During the month, the Corporation incurred direct
materials cost of $55,000 and direct labor cost of $28,000. The actual manufacturing overhead cost
incurred was $53,000. The manufacturing overhead cost applied to Work in Process was $51,000.
The cost of goods manufactured for June was:
A) $141,000.
B) $139,000.
C) $134,000.
D) $136,000.
67
87) Bocchini Corporation has provided the following data concerning last month’s operations.
Purchases of raw materials
$
35,000
Indirect materials included in manufacturing overhead
$
6,000
Direct labor cost
$
58,000
Manufacturing overhead applied to Work in Process
$
84,000
Beginning
Ending
Raw materials inventory
$
14,000
$
19,000
Work in process inventory
$
55,000
$
58,000
Finished goods inventory
$
39,000
$
37,000
How much is the unadjusted cost of goods sold on the Schedule of Cost of Goods Sold?
A) $165,000
B) $163,000
C) $169,000
D) $202,000
88) Borchardt Corporation has provided the following data concerning last month’s operations.
Direct materials
$
29,000
Direct labor
$
58,000
Manufacturing overhead applied to Work in Process
$
82,000
Beginning
Ending
Work in process inventory
$
66,000
$
57,000
How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods
Manufactured?
A) $235,000
B) $178,000
C) $173,000
D) $169,000
Direct materials:
$
Direct labor
Manufacturing overhead cost applied to work in process
Total manufacturing costs
169,000
Add: Beginning work in process inventory
235,000
Deduct: Ending work in process inventory
Cost of goods manufactured
$
178,000
70
89) Weyant Corporation has provided the following data concerning last month’s operations.
Direct materials
$
18,000
Direct labor
$
58,000
Manufacturing overhead applied to Work in Process
$
75,000
Overapplied overhead
$
6,000
Beginning
Ending
Raw materials inventory
$
13,000
$
19,000
Work in process inventory
$
64,000
$
74,000
Finished goods inventory
$
32,000
$
40,000
The company closes out any underapplied or overapplied manufacturing overhead to cost of goods
sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?
A) $173,000
B) $127,000
C) $133,000
D) $141,000
90) Bottum Corporation, a manufacturing Corporation, has provided data concerning its
operations for May. The beginning balance in the raw materials account was $20,000 and the
ending balance was $36,000. Raw materials purchases during the month totaled $63,000.
Manufacturing overhead cost incurred during the month was $111,000, of which $2,000 consisted
of raw materials classified as indirect materials. The direct materials cost for May was:
A) $63,000
B) $47,000
C) $79,000
D) $45,000
91) Holmstrom Corporation has provided the following data concerning last month’s operations.
Direct materials
$
14,000
Direct labor
$
58,000
Manufacturing overhead applied to Work in Process
$
79,000
Beginning
Ending
Work in process inventory
$
47,000
$
53,000
Finished goods inventory
$
41,000
$
42,000
How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?
A) $186,000
B) $145,000
C) $144,000
D) $138,000
Direct materials
$
Direct labor
Manufacturing overhead cost applied to work in process
Total manufacturing costs
151,000
Add: Beginning work in process inventory
198,000
Deduct: Ending work in process inventory
Cost of goods manufactured
$
145,000
Beginning finished goods inventory
$
Add: Cost of goods manufactured
145,000
Cost of goods available for sale
$
186,000
74
92) Cienfuegos Corporation has provided the following data concerning last month’s operations.
Purchases of raw materials
$
36,000
Indirect materials included in manufacturing overhead
$
4,000
Direct labor cost
$
58,000
Manufacturing overhead applied to Work in Process
$
90,000
Overapplied overhead
$
3,000
Beginning
Ending
Raw materials inventory
$
10,000
$
21,000
Work in process inventory
$
62,000
$
70,000
Finished goods inventory
$
36,000
$
40,000
The company closes out any underapplied or overapplied manufacturing overhead to cost of goods
sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?
A) $157,000
B) $154,000
C) $161,000
D) $197,000
76
93) Haver Corporation has provided the following data concerning last month’s operations.
Purchases of raw materials
$
32,000
Indirect materials included in manufacturing overhead
$
4,000
Direct labor cost
$
58,000
Manufacturing overhead applied to Work in Process
$
84,000
Beginning
Ending
Raw materials inventory
$
10,000
$
16,000
Work in process inventory
$
58,000
$
74,000
Finished goods inventory
$
32,000
$
49,000
How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?
A) $180,000
B) $148,000
C) $131,000
D) $134,000
94) Durphey Corporation has provided the following data concerning last month’s operations.
Purchases of raw materials
$
25,000
Indirect materials included in manufacturing overhead
$
4,000
Direct labor cost
$
58,000
Manufacturing overhead applied to Work in Process
$
99,000
Beginning
Ending
Raw materials inventory
$
11,000
$
17,000
How much is the total manufacturing cost for the month on the Schedule of Cost of Goods
Manufactured?
A) $176,000
B) $172,000
C) $152,000
D) $224,000
Direct materials:
Beginning raw materials inventory
$
11,000
Add: Purchases of raw materials
25,000
Total raw materials available
36,000
Deduct: Ending raw materials inventory
17,000
Raw materials used in production
19,000
manufacturing overhead
Direct labor
58,000
process
Total manufacturing costs
$
172,000
79
95) In the Vasquez Corporation, any overapplied or underapplied manufacturing overhead is
closed out to Cost of Goods Sold. Last year, the Corporation incurred $27,000 in actual
manufacturing overhead cost, and applied $29,000 of manufacturing overhead cost to jobs. The
beginning and ending balances of Finished Goods were equal, and the Corporation’s Cost of
Goods Manufactured for the year totaled $71,000. Given this information, Cost of Goods Sold,
after adjustment for any overapplied or underapplied manufacturing overhead, for the year must
have been:
A) $98,000
B) $73,000
C) $71,000
D) $69,000
