46) During July at Loeb Corporation, $83,000 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:
A) debit to Work in Process of $79,000
B) debit to Work in Process of $83,000
C) credit to Manufacturing Overhead of $4,000
D) debit to Raw Materials of $83,000
47) Gullett Corporation had $26,000 of raw materials on hand on November 1. During the month,
the Corporation purchased an additional $75,000 of raw materials. The journal entry to record the
purchase of raw materials would include a:
A) debit to Raw Materials of $101,000
B) credit to Raw Materials of $75,000
C) debit to Raw Materials of $75,000
D) credit to Raw Materials of $101,000
48) Gallon Corporation had $24,000 of raw materials on hand on April 1. During the month, the
Corporation purchased an additional $52,000 of raw materials. During April, $62,000 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 $2,000. The debits to the
Work in Process account as a consequence of the raw materials transactions in April total:
A) $60,000
B) $62,000
C) $0
D) $52,000
49) Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied
the following data for the just completed year:
Direct labor cost
$
Manufacturing overhead:
Indirect labor cost
$
Other manufacturing overhead costs incurred
$
What is the journal entry to record the direct and indirect labor costs incurred during the year?
A)
Wages Payable
737,000
Direct Labor
574,000
Manufacturing Overhead
163,000
B)
Work in Process
574,000
Manufacturing Overhead
163,000
Wages Payable
737,000
C)
Wages Payable
737,000
Work in Process
574,000
Manufacturing Overhead
163,000
D)
Direct Labor
574,000
Manufacturing Overhead
163,000
Wages Payable
737,000
Work in Process
Manufacturing Overhead
Wages Payable or cash
50) Piekos Corporation incurred $90,000 of actual Manufacturing Overhead costs during June.
During the same period, the Manufacturing Overhead applied to Work in Process was $92,000.
The journal entry to record the application of Manufacturing Overhead to Work in Process would
include a:
A) debit to Manufacturing Overhead of $92,000
B) debit to Work in Process of $90,000
C) credit to Manufacturing Overhead of $92,000
D) credit to Work in Process of $90,000
51) Lister Corporation is a manufacturer that uses job-order costing. The company closes out any
overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company
has supplied the following data for the just completed year:
Estimated total manufacturing overhead at the beginning
of the year
$624,000
Estimated direct labor-hours at the beginning of the year
39,000
direct
labor-hours
Results of operations:
Actual direct labor-hours
36,000
direct labor-hours
Manufacturing Overhead
Indirect labor cost
$
131,000
Other manufacturing overhead costs incurred
$
543,000
The total amount of manufacturing overhead applied to production is:
A) $1,547,000
B) $576,000
C) $624,000
D) $674,000
52) Leelanau Corporation uses a job-order costing system. The following data are for last year:
Work in process beginning balance
$
10,500
Work in process ending balance
$
19,000
Cost of goods manufactured
$
323,000
Direct materials
$
115,000
Direct Labor
$
78,000
Leelanau applies overhead using a predetermined rate. What amount of overhead was applied to
work in process last year?
A) $138,500
B) $121,500
C) $130,000
D) $203,500
Direct materials
$
Direct labor
$
Manufacturing overhead cost applied to work in process
Total manufacturing costs
$
$
Add: Beginning work in process inventory
$
Deduct: Ending work in process inventory
$
Cost of goods manufactured
$
53) During March, Zea Inc. transferred $50,000 from Work in Process to Finished Goods and
recorded a Cost of Goods Sold of $56,000. The journal entries to record these transactions would
include a:
A) credit to Cost of Goods Sold of $56,000.
B) debit to Finished Goods of $56,000.
C) credit to Work in Process of $50,000.
D) credit to Finished Goods of $50,000.
54) Firlit Corporation incurred $69,000 of actual Manufacturing Overhead costs during October.
During the same period, the Manufacturing Overhead applied to Work in Process was $70,000.
The journal entry to record the incurrence of the actual Manufacturing Overhead costs would
include a:
A) debit to Work in Process of $70,000
B) credit to Work in Process of $70,000
C) debit to Manufacturing Overhead of $69,000
D) credit to Manufacturing Overhead of $69,000
29
55) Brendal Corporation is a manufacturer that uses job-order costing. The company has supplied
the following data for the just completed year:
Estimated total manufacturing overhead at the beginning
of the year
$693,000
Estimated direct labor-hours at the beginning of the year
42,000
direct
labor-hours
Results of operations:
Raw materials (all direct) requisitioned for use in
production
$
525,000
Direct labor cost
$
690,000
Actual direct labor-hours
49,000
direct
labor-hours
Manufacturing Overhead
Indirect labor cost
$
138,000
Other manufacturing overhead costs incurred
$
506,000
How much is the total manufacturing cost added to Work in Process during the year?
A) $1,215,000
B) $1,803,000
C) $1,498,500
D) $2,023,500
56) Firebaugh Corporation is a manufacturer that uses job-order costing. The company has
supplied the following data for the just completed year:
Raw materials purchased on account
$
Raw materials (all direct) requisitioned for use in production
$
What is the journal entry to record raw materials used in production?
A)
Raw Materials
520,000
Work In Process
520,000
B)
Raw Materials
467,000
Work In Process
467,000
C)
Work In Process
520,000
Raw Materials
520,000
D)
Work In Process
467,000
Raw Materials
467,000
Raw Materials
467,000
Work In Process
467,000
57) On December 1, Mogro Corporation had $26,000 of raw materials on hand. During the month,
the Corporation purchased an additional $60,000 of raw materials. During December, $62,000 of
raw materials were requisitioned from the storeroom for use in production. The debits entered in
the Raw Materials account during the month of December total:
A) $26,000
B) $86,000
C) $60,000
D) $62,000
58) In October, Raddatz Inc. incurred $73,000 of direct labor costs and $6,000 of indirect labor
costs. The journal entry to record the accrual of these wages would include a:
A) debit to Manufacturing Overhead of $6,000
B) debit to Work in Process of $79,000
C) credit to Manufacturing Overhead of $6,000
D) credit to Work in Process of $79,000
33
59) During June, Buttrey Corporation incurred $67,000 of direct labor costs and $7,000 of indirect
labor costs. The journal entry to record the accrual of these wages would include a:
A) debit to Work in Process of $67,000.
B) credit to Work in Process of $74,000.
C) debit to Work in Process of $74,000.
D) credit to Work in Process of $67,000.
60) At the beginning of December, Altro Corporation had $26,000 of raw materials on hand.
During the month, the Corporation purchased an additional $76,000 of raw materials. During
December, $72,000 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:
A) $26,000
B) $102,000
C) $76,000
D) $72,000
61) During September at Renfro Corporation, $65,000 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 this requisition would
include a debit to Manufacturing Overhead of:
A) $65,000
B) $4,000
C) $0
D) $61,000
62) Tomlison Corporation is a manufacturer that uses job-order costing. The company has
supplied the following data for the just completed year:
Cost of goods manufactured
$
1,589,000
Cost of goods sold (unadjusted)
$
1,517,000
The journal entry to record the unadjusted Cost of Goods Sold is:
A)
Finished Goods
1,517,000
Cost of Goods Sold
1,517,000
B)
Cost of Goods Sold
1,517,000
Finished Goods
1,517,000
C)
Finished Good
1,589,000
Cost of Goods Sold
1,589,000
D)
Cost of Goods Sold
1,589,000
Finished Goods
1,589,000
Cost of Goods Sold
1,517,000
Finished Goods
1,517,000
63) Ruddick Corporation is a manufacturer that uses job-order costing. The company has supplied
the following data for the just completed year:
Cost of goods manufactured
$
1,486,000
Cost of goods sold (unadjusted)
$
1,337,000
The journal entry to record the transfer of completed goods from Work in Process to Finished
Goods is:
A)
Finished Goods
1,337,000
Work in Process
1,337,000
B)
Finished Goods
1,486,000
Work in Process
1,486,000
C)
Work in Process
1,337,000
Finished Goods
1,337,000
D)
Work in Process
1,486,000
Finished Goods
1,486,000
Finished Goods
1,486,000
Work in Process
1,486,000
37
64) Calfee Corporation is a manufacturer that uses job-order costing. The company has supplied
the following data for the just completed year:
Beginning inventories:
Raw materials
$
40,000
Work in process
$
19,000
Estimated total manufacturing overhead at the beginning of
the year
$
595,000
Estimated direct labor-hours at the beginning of the year
35,000
direct
labor-hours
Results of operations:
Raw materials purchased on account
$
423,000
Raw materials (all direct) requisitioned for use in
production
$
420,000
Direct labor cost
$
641,000
Actual direct labor-hours
33,000
direct
labor-hours
Manufacturing overhead:
Indirect labor cost
$
143,000
Other manufacturing overhead costs incurred
$
531,000
Cost of goods manufactured
$
1,441,000
The ending balance in the Work in Process inventory account is:
A) $200,000
B) $162,000
C) $220,000
D) $181,000
39
65) Tusa Corporation is a manufacturer that uses job-order costing. The company closes out any
overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company
has supplied the following data for the just completed year:
Estimated total manufacturing overhead at the beginning
of the year
$638,250
Estimated direct labor-hours at the beginning of the year
37,000
direct
labor-hours
Results of operations:
Actual direct labor-hours
34,000
direct labor-hours
Manufacturing overhead:
Indirect labor cost
$
148,000
Other manufacturing overhead costs incurred
$
450,000
Cost of goods manufactured
$
1,611,000
Cost of goods sold (unadjusted)
$
1,518,000
The adjusted Cost of Goods Sold for the year is:
A) $1,518,000
B) $1,506,500
C) $1,642,000
D) $1,529,500