81. The details concerning the costs incurred on each job order are accumulated in a subsidiary ledger known as the:
A. stock ledger
B. materials ledger
C. cost ledger
D. creditors ledger
82. Each account in the cost ledger is called a:
A. finished goods sheet
B. stock record
C. materials requisition
D. job cost sheet
83. Selected accounts with some debits and credits omitted are presented as follows:
Work in Process
Aug. 1Balance275,000Aug. 31Goods finished1,030,000
31Direct materialsX
31Direct labor450,000
31Factory overheadX
Factory Overhead
Aug. 1-31Costs incurred145,000Aug. 1Balance15,000
31Applied
(30% of direct
labor cost)X
If the balance of Work in Process at August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August?
A. $390,000
B. $170,000
C. $525,000
D. $580,000
84. 9685554444444444444444444444444444444Selected accounts with some debits and credits omitted are presented as follows:
Work in Process
Aug. 1Balance275,000Aug. 31Goods finished1,030,000
31Direct materialsX
31Direct labor450,000
31Factory overheadX
Factory Overhead
Aug. 1-31Costs incurred145,000Aug. 1Balance15,000
31AppliedX
If the balance of Work in Process at August 31 is $220,000, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs?
A. $135,000
B. $10,000
C. $120,000
D. $70,000
85. Selected accounts with some debits and credits omitted are presented as follows:
Work in Process
Oct. 1Balance20,000Oct. 31Goods finishedX
31Direct materials96,700
31Direct labor201,000
31Factory overheadX
Finished Goods
Oct. 1Balance52,000
31Goods finished360,000
If the balance of Work in Process at October 31 is $21,000, what was the amount of factory overhead applied in October?
A. $63,300
B. $21,300
C. $42,300
D. $11,300
86. Selected accounts with some debits and credits omitted are presented as follows:
Work in Process
Apr. 1Balance7,000Apr. 30Goods finishedX
30Direct materials78,400
30Direct labor195,000
30Factory overhead136,500
Finished Goods
Apr. 1Balance42,000
30Goods finished387,000
What was the balance of Work in Process as of April 30?
A. $8,100
B. $35,000
C. $29,900
D. $22,900
87. If the amount of factory overhead cost incurred exceeds the amount applied, the factory overhead account will have a:
A. debit balance and be underapplied
B. credit balance and be underapplied
C. credit balance and be overapplied
D. debit balance and be overapplied
88. The recording of the factory labor incurred for general factory use would include a debit to:
A. Factory Overhead
B. Wages Payable
C. Wages Expense
D. Cost of Goods Sold
89. The recording of the application of factory overhead costs to jobs would include a credit to:
A. Factory Overhead
B. Wages Payable
C. Work in Process
D. Cost of Goods Sold
90. The recording of the jobs completed would include a debit to:
A. Factory Overhead
B. Finished Goods
C. Work in Process
D. Cost of Goods Sold