Question Details

Whatistheamountoffactoryoverhead



Figure
ThefollowingisthedataforLaurenEnterprises:

Sellingandadministrativeexpenses	$75,000
Directmaterials used	265,000
Directlabor(25,000hours)		300,000Factoryoverheadapplicationrate	$16perDLH

Inventories



1.	RefertoFigure.Whatisthecostofgoodsmanufactured?
a.$1,115,000
b.$965,000
c.$955,000
d.$950,000
2.	RefertoFigure.Whatisthecostofgoodssold?
a.$565,000
b.$950,000
c.$965,000
d.$980,000
3.	Thecostofunitscompletedduringaperiodiscalled
a.	costofgoodssold.
b.	costofgoodsmanufactured.
c.	currentmanufacturingcosts.
d.	finishedgoodsinventory.
4.	TherecordsforthepreviousyearforSarasotaBoatBuilders,Inc.,showsthefollowingdata::
Sellingandadministrative expenses	$300,000
Directmaterials used	530,000
Directlabor(100,000hours)		600,000Factoryoverheadapplicationrate	$5perDLH

Inventories
Beginning	Ending
Work in process	$150,000	$160,000
Finishedgoods	80,000	50,000

Thecostofgoodssoldis
a.$1,630,000.
b.$1,880,000.
c.$1,600,000.
d.$1,650,000.

5.	ThefollowinginformationhasbeenprovidedforHopenEnterprises:

Costofgoodsmanufactured	$7,500
Workinprocess	
Beginning	1,200
Ending	1,400
Directlabor	4,000
Materialsplacedinproduction	1,500
Factoryoverhead	?

Whatistheamountoffactoryoverhead?
a.$2,000
b.$2,200c.$1,400d.$5,500

6.	ThefollowinginformationisfromtherecordsofStretchLimousines,Inc.:
Netdirectmaterialspurchasecost	$225,000
Totaldirectmaterialsused	275,000
Beginningdirectmaterialsinventory	125,000

Theendingdirectmaterialsinventoryis
a.$175,000.	
b.$75,000.	
c.$50,000.	
d.$100,000.	




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