Question

CramTutoring 5. Owl Bear's intern is very grateful you helped her in figuring out cost of goods sold but now she is confused about how to figure out the raw materials purchased. She gives you the following information: Raw materials beginning inventory 10,000; ending inventory of 12,000; raw materials used 13,000 and finished goods of 7,000. Can you help her? a. Yes, it is 9,000 b. Yes, it is 11,000 c. Yes, it is 15,000 d. No, I didn't help her on the last problem, and I'm not helping her now either 6. Owl Bear's intern thinks you are a genius! She is now trying to figuring out the manufacturing costs for the period and is staring blankly at the following data: Direct Materials used 3,000; Total Overhead Applied 6,000; Beginning Finished Goods 5,000; Ending Raw Materials: 8,000, Direct Labor 1,000; Ending Goods in Process 4,000. Can you help her? The genius says it is 9,000 b. Yes, I am going to ACE this exam, It is 10,000 Yes, accounting is fun and easy, it is 11,000 d. She thinks I'm a genius...If she only knew. lol. noclue 7. Owl Bear's intern now has you on speed dal she is overwhelmed with the following list of account balances and needs to figure out the costs of goods manufactured by day's end or she is going to get fired! She shows you the list below, can you help her? Depreciation on factory machine Indirect labor 2.000 Direct materials used 3.000 Goods in process - ending 2000 Ending finished goods inventory 3.000 Goods in process beginning 1.800 Direct labor 500 Seling expenses General and admin expenses 2,300 Indire materials 700 27,000 b. 7,500 8.000 d. Sure, let's visit ziprecruiter.com, simplyhired.com and monster.com Chapter 15 1 You are examining the application of overhead for the month of July and preparing to close the MOH account. According to the company data, manufacturing overhead has been debited $125,000 and the credits total $130,000. Which of the following is true? a. The manufacturing overhead applied to Work in Process was $125,000 CramTutoring b. Manufacturing overhead was over applied by $5,000 The actual overhead for the company was $130,000 d. Manufacturing overhead was under applied by $5,000 2. You

Answer 1

Page No.: YOUVA Date: Raw material bigining Inventory Add Raw material Purchased. loooo 05 zoo 25ooo Less fear maten al used 13000 Raw maleval ending Ickentory | 2007 Ansoce 15000 Dlaaf modenal used 3088 Add Direct Labour 1000 Add Toral overhead applied Godo 10ooo 5ooo Add opening Amished goods Less ending Goods in boots mane factoring cost 1508o yooo (1000 Ans: (C) lloon Direct material used. Add: Direct Labour Add Indirect Labour Add Indizet materiale Add Deferrafes ou mochimoy Add Goods in Prozess biginning Less onding Cost of goods manefartend ANS : (B) 7500 capter is 300d 500 2008 700 1 500 1800 ( 2000 7500 © Manufacturing overhead was over applied by 085000