ACC 500 Managerial Accounting Modules 6,7 8, 9, & 10 - 22243

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ACC 500 Managerial Accounting Modules 6,7 8, 9, & 10

More questions are in the document atttached please see the dropbox link....

1.

In a job-order cost system, the application of manufacturing overhead usually would be recorded as a debit to:

 

A)

Manufacturing Overhead.

 

B)

Cost of Goods Sold.

 

C)

Finished Goods inventory.

 Source: CPA, adapted

 

D)

Work in Process inventory.

 

2.

The manufacturing operation that would be most likely to use a job-order costing system is:

 

A)

shipbuilding.

 

B)

toy manufacturing.

 

C)

candy manufacturing.

 

D)

crude oil refining.

 

Use the following to answer question 3:

Lund Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any under- or overapplied overhead cost is closed out to Cost of Goods Sold at the end of the month. During March, the following transactions were recorded by the company:

 

Raw materials (all direct materials):

 

 

 

 

 Purchased during the month

 $27,000

 

 

 Used in production

 $28,000

 

Labor:

 

 

 

 

 Direct labor hours worked during the month

 2,500

 

 

 Direct labor cost incurred

 $20,000

 

 

 Indirect labor cost incurred

 $5,500

 

 

 

 

 

 Manufacturing overhead costs incurred (total)

 $17,000

 

Inventories:

 

 

 

 

 Raw materials (all direct) March 31

 $7,500

 

 

 Work in process, March 1

 $10,500

 

 

 Work in process, March 31

 $14,000*

 

 

 

 

 

 

*contains $5,000 of direct labor cost

 

             

 

 

Here are the questions....

https://www.dropbox.com/s/rol4lvhph2r83ct/Final%20Acct.docx

 

Below solutions Contains 100% accurate answers of all Questions except {3,19,25,27,28,30,31,32,33 } Rest all are 100% accurate. Once purchased in SOF got an A+..

 

Solution Description

solutions Contains 100% accurate answers of all Question

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