111. Ajax Company accumulated the following account information for the year:
Beginning raw materials inventory
|
$6,000
|
Indirect materials cost
|
2,000
|
Indirect labor cost
|
5,000
|
Maintenance of factory equipment
|
2,800
|
Direct labor cost
|
7,000
|
|
|
Using the above information, total factory overhead costs would be:
A. $9,800
B. $16,800
C. $15,800
D. $13,000
E. $7,800
112. The following information is available for the year ended December 31:
Beginning raw materials inventory
|
$2,500
|
Raw materials purchases
|
4,000
|
Ending raw materials inventory
|
3,000
|
Office supplies expense
|
1,000
|
|
|
The amount of raw materials used in production for the year is:
A. $4,100
B. $5,100
C. $3,500
D. $6,500
E. $4,000
113. A financial report that summarizes the amounts and types of costs that were incurred in the manufacturing process during the period is a:
A. Materiality statement
B. Managerial statement
C. Manufacturing statement
D. Merchandise statement
E. Monetary statement
114. Which of the following accounts would appear on a manufacturing statement?
A. Raw materials, factory insurance expired, indirect labor.
B. Raw materials, goods in process, finished goods.
C. Factory buildings, delivery equipment, and depreciation on factory equipment.
D. Direct labor, indirect labor, sales salaries.
E. Direct labor, factory repairs and maintenance, wages payable.
Reference: 14_01
Use the following information from Hardy Co. for the current year:
Direct materials used
|
$5,000
|
Direct Labor
|
7,000
|
Total Factory overhead
|
5,100
|
Beginning goods in process
|
3,000
|
Ending goods in process
|
4,000
|
|
|
115. The total of Hardy Co.'s manufacturing costs added during the current year is:
A. $12,000
B. $16,100
C. $17,100
D. $18,100
E. $13,600
116. Hardy Co.'s cost of goods manufactured for the current year is:
A) $12,000
B) $16,100
C) $17,100
D) $18,100
E) $13,600
117. Total manufacturing costs incurred during the year do not include:
A. Direct materials used.
B. Factory supplies used.
C. Goods in process inventory, beginning balance.
D. Direct labor.
E. Depreciation of factory machinery.
Reference: 14_02
The following information is available for Talking Toys, Inc. for the current year:
Direct materials used
|
$12,500
|
Goods in process, January 1
|
50,000
|
Goods in process, December 31
|
37,000
|
Total Factory overhead
|
5,500
|
Direct labor used
|
26,500
|
|
|
119. The total manufacturing costs incurred during the year were:
A. $13,000
B. $44,500
C. $57,500
D. $94,500
E. $89,000
120. The total cost of goods manufactured for the year was:
A. $13,000
B. $44,500
C. $57,500
D. $94,500.
E. $52,000