Managerial accounting Study Set 9
Quiz 5: Systems Design: Job-Order Costing
What Is the Amount of Direct Materials Cost in the March
What is the amount of direct materials cost in the March 31 work in process inventory account? A) $5,150. B) $9,350. C) $9,000. D) $3,850.
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What is the cost of goods manufactured for March? A) $67,250. B) $67,300. C) $81,800. D) $75,550.
Which of the following would be included in the entry to dispose of the under- or over applied overhead cost for the month? A) A debit of $50 to Cost of Goods Sold. B) A debit of $50 to Manufacturing Overhead. C) A debit of $5,500 to Manufacturing Overhead. D) A credit of $5,500 to Cost of Goods SolD. OH applied = 26,500 * .7 = 18,550 less actual of 18,500 = $50 overapplieD.
What was the March 1 balance in the Raw Materials inventory? A) $10,500. B) $9,500. C) $6,500. D) $8,500.
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