CBAD 202 Exam 1 – Questions With Comprehensive
Solutions
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Practice questions for this set
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$151,625.00
($320,900 - 109,700 + 105,000 = $316,200 Total Manufacturing Cost
$316,200 - 73,600 (direct materials) = $242,600 direct labor and MOH
$242,600 = X (DL) + 60% X (MOH) X = $151,625.00
Choose an answer
1 Which of the following describes the way in which total fixed costs behave?
Country Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from
the past year include:
Depreciation on sales office$ 9900
Depreciation on factory equipment16,000
Factory supervisor salary50,400
Sales commissions23,800
Lubricants used in factory equipment3600
Insurance costs for factory21,700
2 Wages paid to maintenance workers115,200
Fabric used to upholster furniture10,100
Freight-in (on raw materials)3500
Costs of delivery to customers9300
Wages paid to assembly-line workers115,100
Lumber used to build product82,500
Utilities in factory54,200
Utilities in sales office26,700
Direct labor costs for Country Furniture Company totaled
Here are selected data for Whatchamacallit Company:
Cost of goods manufactured $320,900
Work in process inventory, beginning$109,700
3 Work in process inventory, ending$105,000
Direct materials used$73,600
, Manufacturing overhead is allocated at 60% of direct labor cost.
What was the amount of direct labor costs?
4 Job order costing might be used by a
Don't know?
Terms in this set (65)
Which of the following They will remain the same throughout production levels within
describes the way in which total the relevant range
fixed costs behave?
Only manufacturing companies True
have finished goods inventory
London Plastics has monthly $65,800 ($4.70 x 14,000)
fixed costs of $84,000, while its
variable costs are $4.70 per unit.
If the sales price of a unit is
$15.50 and London Plastics sells
14,000 units, the company's total
variable cost will be
Direct materials, direct labor, manufacturing overhead (indirect
Product costs include
materials and labor)
Job order costing might be used Hospital
by a
Indirect materials, indirect labor, and all other indirect costs
Manufacturing overhead related to the manufacturing facility (depreciation on factory
includes buildings and machines, and insurance, taxes, and maintenance
on factory facility)
Indirect materials, indirect labor, Manufacturing overhead
and indirect manufacturing costs
are what type of manufacturing
cost?
Managerial accounting False
information is always based on
historical transactions with
external parties
If a company wants to True
determine a product's cost, it
must assign both direct and
indirect costs.
Which of the following is an Wages of factory maintenance personnel
example of manufacturing
overhead expense in a factory?
The primary purpose of False
managerial accounting
information is to help external
users make investing and
lending decisions.
Managerial accounting True
develops reports that help
internal parties effectively and
efficiently run the company.
Solutions
Save
Students also studied
Perio Study DENT 475 - Implant components NBDE II Review - Pro
Teacher 78 terms 42 terms 69 terms
Hunter_Charters Preview gillphil Preview melissa_jarvis7
Practice questions for this set
Learn 1 /7 Study with Learn
$151,625.00
($320,900 - 109,700 + 105,000 = $316,200 Total Manufacturing Cost
$316,200 - 73,600 (direct materials) = $242,600 direct labor and MOH
$242,600 = X (DL) + 60% X (MOH) X = $151,625.00
Choose an answer
1 Which of the following describes the way in which total fixed costs behave?
Country Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from
the past year include:
Depreciation on sales office$ 9900
Depreciation on factory equipment16,000
Factory supervisor salary50,400
Sales commissions23,800
Lubricants used in factory equipment3600
Insurance costs for factory21,700
2 Wages paid to maintenance workers115,200
Fabric used to upholster furniture10,100
Freight-in (on raw materials)3500
Costs of delivery to customers9300
Wages paid to assembly-line workers115,100
Lumber used to build product82,500
Utilities in factory54,200
Utilities in sales office26,700
Direct labor costs for Country Furniture Company totaled
Here are selected data for Whatchamacallit Company:
Cost of goods manufactured $320,900
Work in process inventory, beginning$109,700
3 Work in process inventory, ending$105,000
Direct materials used$73,600
, Manufacturing overhead is allocated at 60% of direct labor cost.
What was the amount of direct labor costs?
4 Job order costing might be used by a
Don't know?
Terms in this set (65)
Which of the following They will remain the same throughout production levels within
describes the way in which total the relevant range
fixed costs behave?
Only manufacturing companies True
have finished goods inventory
London Plastics has monthly $65,800 ($4.70 x 14,000)
fixed costs of $84,000, while its
variable costs are $4.70 per unit.
If the sales price of a unit is
$15.50 and London Plastics sells
14,000 units, the company's total
variable cost will be
Direct materials, direct labor, manufacturing overhead (indirect
Product costs include
materials and labor)
Job order costing might be used Hospital
by a
Indirect materials, indirect labor, and all other indirect costs
Manufacturing overhead related to the manufacturing facility (depreciation on factory
includes buildings and machines, and insurance, taxes, and maintenance
on factory facility)
Indirect materials, indirect labor, Manufacturing overhead
and indirect manufacturing costs
are what type of manufacturing
cost?
Managerial accounting False
information is always based on
historical transactions with
external parties
If a company wants to True
determine a product's cost, it
must assign both direct and
indirect costs.
Which of the following is an Wages of factory maintenance personnel
example of manufacturing
overhead expense in a factory?
The primary purpose of False
managerial accounting
information is to help external
users make investing and
lending decisions.
Managerial accounting True
develops reports that help
internal parties effectively and
efficiently run the company.
