Brooks Final Exam Questions and Correct Answers 2024/2025 with complete solution.
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Brooks Final Exam Questions and Correct Answers 2024/2025 with complete solution.
Which of the following is not typical of traditional costing systems?
Use of multiple cost drivers to allocate overhead.
Value-added activities
all of the above.
Which of the following is a batch-level activity...
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Brooks Final Exam Questions and Correct Answers
2024/2025 with complete solution.
Which of the following is not typical of traditional costing systems?
Use of multiple cost drivers to allocate overhead.
Value-added activities
all of the above.
Which of the following is a batch-level activity?
Purchase ordering
The use of activity-based costing in service industries
all of these.
An "Ordering and Receiving Materials" cost pool would most likely have as a cost
driver:
number of purchase orders.
Which of the following is a unit-level activity?
Painting
If actual overhead is less than applied manufacturing overhead, then
manufacturing overhead is:
overapplied.
If the entry to assign factory labor showed only a debit to Work In Process
Inventory, then all labor costs were
direct labor.
An important feature of a job order cost system is that each job
has its own distinguishing characteristics.
The predetermined overhead rate is based on the relationship between
estimated annual costs and expected annual activity.
Process costing is not used when
jobs have distinguishing characteristics.
The Raw Materials Inventory account is
debited for invoice costs and freight costs chargeable to the purchaser.
In the month of June, a department had 20,000 units in beginning work in process
that were 70% complete. During June, 80,000 units were transfered into
production from another department. At the end of June there were 10,000 units
in ending work in process that were 40% complete. Materials are added at the
beginning of the process, while conversion costs are incurred uniformly
throughout the process. How many units were transferred out of the process in
June?
90,000 units
Materials costs of $800,000 and conversion costs of $1,020,000 were charged to a
processing department in the month of September. Materials are added at the
beginning of the process, while conversion costs are incurred uniformly
throughout the process. There were no units in beginning work in process, 20,000
units were started into production in September, and there were 5,000 units in
ending work in process that were 40% complete at the end of September.
, What was the total amount of manufacturing costs assigned to those units that
were completed and transferred out of the process in September?
$1,500,000.
Holton Company has the following equivalent units for July: materials 20,000 and
conversion 18,000. Production cost data are:
D
A process with no beginning work in process, completed and transferred out
95,000 units during a period and had 50,000 units in the ending work in process
inventory that were 30% complete. The equivalent units of production for the
period were:
110,000 equivalent units.
Using $2,540,000 as the cost of goods manufactured, compute the cost of goods
sold using the following information.
$2,548,000.
Using $2,500,000 as the total manufacturing costs, compute the cost of goods
manufactured using the following information.
$2,506,000.
Assuming that the total manufacturing costs are $2,900,000, compute the cost of
goods manufactured using the information below.
$2,909,000.
Kushman Combines, Inc. has $20,000 of ending finished goods inventory as of
December 31, 2013. If beginning finished goods inventory was $10,000 and cost
of goods sold was $50,000, how much would Kushman report for cost of goods
manufactured?
$60,000
The Manufacturing Overhead account shows debits of $30,000, $24,000, and
$28,000 and one credit for $86,000. Based on this information, manufacturing
overhead
has been overapplied
During 2013, Tanner Manufacturing expected Job No. 26 to cost $300,000 of
overhead, $500,000 of materials, and $200,000 in labor. Tanner applied overhead
based on direct labor cost. Actual production required an overhead cost of
$280,000, $550,000 in materials used, and $210,000 in labor. All of the goods were
completed. What amount was transferred to Finished Goods?
$1,075,000
Redman Company manufactures customized desks. The following pertains to Job
No. 978:
What is the total manufacturing cost for Job No. 978?
$23,450
For Wilton Company, the predetermined overhead rate is 70% of direct labor cost.
During the month, $360,000 of factory labor costs are incurred of which $100,000
is indirect labor. Actual overhead incurred was $180,000. The amount of overhead
debited to Work in Process Inventory should be:
$182,000
Equivalent units are calculated by
multiplying the percentage of work done by the physical units.
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