31) Specialty Wood Products Company had the following labor-related transactions at their plant last month:
Woodworkers' wages
|
$100,000
|
Staining tank workers' wages
|
20,000
|
Maintenance personnel wages
|
10,000
|
What is the journal entry to record the incurrence of direct labor?
A)
Manufacturing Wages
|
|
130,000
|
|
|
Wages Payable
|
|
130,000
|
B)
Wages Payable
|
|
130,000
|
|
|
Manufacturing Wages
|
|
130,000
|
C)
WIP Inventory
|
|
130,000
|
|
|
Manufacturing Wages
|
|
130,000
|
D)
WIP Inventory
|
|
130,000
|
|
|
Wages Payable
|
|
130,000
|
32) Which of the following entries would be made to record the purchase of $20,000 of raw materials?
A)
WIP Inventory
|
|
20,000
|
|
|
Wages Payable
|
|
20,000
|
B)
Accounts payable
|
|
20,000
|
|
|
WIP Inventory
|
|
20,000
|
C)
Raw Materials Inventory
|
|
20,000
|
|
|
Accounts payable
|
|
20,000
|
D)
Accounts payable
|
|
20,000
|
|
|
Raw Materials Inventory
|
|
20,000
|
33) Here is some basic data for Wharton Company:
Cost of materials purchases on account
|
$75,000
|
Cost of materials requisitioned (includes $2,000 of indirect)
|
43,000
|
Direct labor costs incurred
|
75,000
|
Manufacturing overhead costs incurred, including indirect materials
|
95,000
|
Cost of goods completed
|
226,750
|
Cost of goods sold
|
138,000
|
Beginning raw materials inventory
|
15,000
|
Beginning work in process inventory
|
32,000
|
Beginning finished goods inventory
|
31,000
|
Predetermined manufacturing overhead rate (as % of direct labor cost)
|
125%
|
The journal entry to record the cost of raw materials placed into production involves a:
A) debit to overhead for $41,000.
B) debit to work in process inventory for $43,000.
C) debit to work in process inventory for $41,000.
D) credit to manufacturing overhead for $2,000.
34) The cost of indirect materials used in production is credited to:
A) finished goods inventory.
B) manufacturing overhead.
C) raw materials inventory.
D) work in process inventory.
35) The journal entry to issue $500 of direct materials and $30 of indirect materials involves a debit to:
A) manufacturing overhead for $530.
B) work in process inventory for $530.
C) work in process inventory for $500 and a credit to manufacturing overhead for $0.
D) work in process inventory for $500 and a debit to manufacturing overhead for $30.
36) The journal entry to assign $1,500 of direct labor and $200 of indirect labor involves a debit to:
A) manufacturing overhead for $1,700.
B) work in process inventory for $1,700.
C) work in process inventory for $1,500 and a credit to manufacturing overhead for $200.
D) work in process inventory for $1,500 and manufacturing overhead for $200.
37) Which of the following entries would be made to record the requisition of $10,000 of direct materials and $5,000 of indirect materials?
A)
Manufacturing Overhead
|
|
15,000
|
|
|
Raw Materials Inventory
|
|
15,000
|
B)
Raw Materials Inventory
|
|
15,000
|
|
|
WIP Inventory
|
|
15,000
|
C)
WIP Inventory
|
|
15,000
|
|
|
Materials Inventory
|
|
15,000
|
D)
WIP Inventory
|
|
10,000
|
|
Manufacturing Overhead
|
|
5,000
|
|
|
Materials Inventory
|
|
15,000
|
38) Which of the following would be debited to record the costs of indirect labor?
A) Manufacturing overhead
B) Work in process inventory
C) Finished goods inventory
D) Wages payable
39) Which of the following would be debited to record direct labor costs incurred?
A) Finished goods inventory
B) Manufacturing overhead
C) Wages payable
D) Work in process inventory
40) Which of the following would be debited to record the requisition of direct materials?
A) Finished goods inventory
B) Raw materials inventory
C) Work in process inventory
D) Cost of goods manufactured