Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
8. Question :<br />
(TCO 2) BCS Company applies manufacturing overhead based on direct labor hours. Information concerning<br />
manufacturing overhead and labor for August follows:<br />
Estimated<br />
Actual<br />
9. Question :<br />
(TCO 2) Citrus Company incurred manufacturing overhead costs of $300,000. Total overhead applied to jobs was<br />
$306,000. What was the amount of overapplied or underapplied overhead?<br />
10. Question :<br />
(TCO 3) Companies in which of the following industries would notbe likely to use process costing?<br />
11.Question :<br />
(TCO 3) The Blending Department began the period with 20,000 units. During the period the department received<br />
another 80,000 units from the prior department and at the end of the period 30,000 units remained, which were 40%<br />
complete. How much are equivalent units in The Blending Department’s work in process inventory at the end of the<br />
period?<br />
12. Question :<br />
(TCO 3) Ranger Glass Company manufactures glass for French doors. At the start of May, 2,000 units were in-process.<br />
During May, 11,000 units were completed and 3,000 units were in process at the end of May. These in-process units<br />
were 90% complete with respect to material and 50% complete with respect to conversion costs. Other information is<br />
as follows:<br />
Calculate the cost per equivalent unit for conversion costs.<br />
13. Question :<br />
(TCO 4) Clearance Depot has total monthly costs of $8,000 when 2,500 units are produced and $12,400 when 5,000<br />
units are produced. What is the estimated total monthly fixed cost?<br />
1. Question :<br />
(TCO 4) Which of the following will have no effect on the break-even point in units?<br />
2. Question :<br />
(TCO 4) Circle K Furniture has a contribution margin ratio of 16%. If fixed costs are $176,800, how many dollars of<br />
revenue must the company generate in order to reach the break-even point?<br />
3. Question :<br />
(TCO 4) Randy Company produces a single product that is sold for $85 per unit. If variable costs per unit are $26 and<br />
fixed costs total $47,500, how many units must Randy sell in order to earn a profit of $100,000?<br />
4. Question :<br />
(TCO 5) In full costing, when does fixed manufacturing overhead become an expense?<br />
5. Question :<br />
(TCO 5) Variable costing income is a function of:<br />
6. Question :<br />
(TCO 5) Peak Manufacturing produces snow blowers. The selling price per snow blower is $100. Costs involved in<br />
production are:<br />
7. Question :