quiz makeup Essay

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Question 1
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Overhead is applied to jobs at a rate of 150% of direct labor costs. Job # 100 required $500 in direct labor costs. The job was initially budgeted to require $550 in direct labor costs. Overhead applied to # 100 during the period amounted to:
Select one:
a. $550
b. $750
c. $825
d. some other amount.
Question 2
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Which of the following is an example of a direct material cost?
Select one:
a. glue and tape, not traceable
b. plastic part in the product, easy to track
c. supervisors on the production line
d. boxes used to ship the product that are not tracked
Question 3
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Select one:
a. how to advertise the product
b. how to price the product
c. planning for profitability
d. both B. and c.
Question 13
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XYZ Co. uses a job order cost accounting system. At year-end the work in process Inventory controlling account showed a debit balance of $57,500. For the two jobs in process at year-end, one showed $8,000 in direct materials and $6,000 in direct labour. The job cost sheet for the second job showed $12,000 in direct material and $9,000 in direct labour. If the company is using a predetermined overhead application rate based on direct labour cost, the rate is:
Select one:
a. 50%
b. 100%
c. 150%
d. 200%
Question 14
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If the manufacturing overhead account at month end has a remaining debit balance, this indicates that overhead is under applieD.
Select one:
a. True
b. False
Question 15
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B&B Fabricating uses a job order cost system. Overhead is applied to jobs on the basis of direct labour hours. During the current period, Job No. 105 was charged $400 in direct material, $450 in direct labour, and $180 in overheaD. If direct labor cost is an average of $15 per hour, the company's overhead application rate is:
Select one:
a. $9 per direct labor hour
b. $6 per direct labor hour
c. $17 per direct labor hour
d. $20 per direct labor hour
Question 16
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