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Multiple Choice Question 112
Gulick Company developed the following data for the current year:
Beginning work in process inventory
$240,000
Direct materials used 144,000
Actual overhead
288,000
Overhead applied
216,000
Cost of goods manufactured
264,000
Total manufacturing costs
720,000
Gulick Company's ending work in process inventory is
$480,000.
$456,000.
Multiple Choice Question 43
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Hartley Company produces two products, Flower and Planter. Flower is
a high-volume item totaling 20,000 units annually. Planter is a low-
volume item totaling only 6,000 units per year. Flower requires one hour
of direct labor for completion, while each unit of Planter requires 2
hours. Therefore, total annual direct labor hours are 32,000 (20,000 +
12,000). Expected annual manufacturing overhead costs are $960,000.
Hartley uses a traditional costing system and assigns overhead based on
direct labor hours. Each unit of Planter would be assigned overhead of