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| 1 | |
Which of the following is not one of the activities of the conversion process? |
| | A) | Requisition raw materials |
| | B) | Buy raw material |
| | C) | Use labor and other manufacturing resources to create finished goods. |
| | D) | Store the finished product until sold. |
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| 2 | |
The cost of the wages of assembly line supervisor is: |
| | A) | direct labor |
| | B) | indirect labor |
| | C) | manufacturing overhead |
| | D) | selling and administrative |
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| 3 | |
The journal entry to record the payment of the assembly line supervisor would include a: |
| | A) | credit to Cost of Goods Manufactured |
| | B) | debit to Work-in-Process Inventory |
| | C) | debit to Manufacturing Overhead |
| | D) | credit to Accounts Payable |
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| 4 | |
The journal entry to record the purchase of indirect materials on account would include a: |
| | A) | debit to raw materials inventory |
| | B) | debit to Manufacturing Overhead |
| | C) | debit to Work-in-Process Inventory |
| | D) | credit to Cost of Goods Manufactured |
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| 5 | |
The journal entry to record the requisition of raw materials for production would include a: |
| | A) | credit to Direct Labor |
| | B) | credit to Administrative Wages |
| | C) | debit to Manufacturing Overhead |
| | D) | debit to Work-in-Process Inventory |
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| 6 | |
The journal entry to record the application of manufacturing overhead to work-in- process inventory is: |
| | A) | debit to Manufacturing Overhead and credit to Work-in-Process Inventory |
| | B) | debit to Work-in-Process and credit to Manufacturing Overhead |
| | C) | debit to Work-in-Process Inventory and credit to Accumulated Depreciation |
| | D) | debit to Cost of Goods Manufactured and credit to Manufacturing Overhead |
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| 7 | |
A cost pool is a group of overhead costs that respond to changes in: |
| | A) | a cost driver |
| | B) | conversion costs decreases |
| | C) | conversion costs increases |
| | D) | the level of sales |
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| 8 | |
The activity "testing products" is part of the activity level: |
| | A) | product sustaining |
| | B) | facility sustaining |
| | C) | batch related |
| | D) | unit related |
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| 9 | |
The activity "handling materials" is part of the activity level: |
| | A) | product sustaining |
| | B) | facility sustaining |
| | C) | batch related |
| | D) | unit related |
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| 10 | |
When the amount of over- underapplied manufacturing overhead is large, the Manufacturing Overhead account is generally closed out to: |
| | A) | Cost of Goods Sold |
| | B) | Work-in-Process Inventory |
| | C) | Cost of Goods Manufactured |
| | D) | Finished Goods Inventory, Work-in-Process Inventory, and Cost of Goods Sold |
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| 11 | |
Landoll Manufacturing Corporation applies batch-related manufacturing overhead on the basis of the number of production runs. The following information is available:
 <![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=jpg::::/sites/dl/free/0078136601/794878/image001.jpg','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (7.0K)</a>]]>
The amount of over/underapplied manufacturing overhead is: |
| | A) | $121,405 overapplied |
| | B) | $9,450 underapplied |
| | C) | $0 under/over applied |
| | D) | Cannot Be Determined |
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| 12 | |
Price Purification Systems gathered the following direct labor cost information for the month of April:
 <![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=jpg::::/sites/dl/free/0078136601/794878/image002.jpg','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (12.0K)</a>]]>
The direct labor price variance is: |
| | A) | $47,110 F |
| | B) | $30,643 F |
| | C) | $1,260 U |
| | D) | $45,850 F |
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| 13 | |
Price Purification Systems gathered the following direct labor cost information for the month of April:
<![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=jpg::::/sites/dl/free/0078136601/794878/image002.jpg','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (12.0K)</a>]]>
The direct labor usage variance is: |
| | A) | $19,890 U |
| | B) | $1,260 F |
| | C) | $2,571 U |
| | D) | $21,150 F |
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| 14 | |
Scout & Sons Manufacturing manufactures camping gear. Selected data regarding standard costs and actual results for the month of February are shown below.
 <![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=jpg::::/sites/dl/free/0078136601/794878/image003.jpg','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (16.0K)</a>]]>
The direct materials price variance is: |
| | A) | $1,650 F |
| | B) | $5,198 F |
| | C) | $5,859 F |
| | D) | $7,560 F |
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| 15 | |
Scout & Sons Manufacturing manufactures camping gear. Selected data regarding standard costs and actual results for the month of February are shown below.
<![CDATA[<a onClick="window.open('/olcweb/cgi/pluginpop.cgi?it=jpg::::/sites/dl/free/0078136601/794878/image003.jpg','popWin', 'width=NaN,height=NaN,resizable,scrollbars');" href="#"><img valign="absmiddle" height="16" width="16" border="0" src="/olcweb/styles/shared/linkicons/image.gif"> (16.0K)</a>]]>
The direct materials usage variance is: |
| | A) | $6,689 U |
| | B) | $7,350 U |
| | C) | $661 U |
| | D) | $900 F |
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