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44.
Lynn Manufacturing Co. prepares income statements using
both standard absorption and standard variable costing methods.
For 2005, unit standard costs were unchanged from 2004. In 2005,
the only beginning and ending inventories were finished goods of
5,000 units. How would Lynn's ratios using absorption costing
compare with those using variable costing?
45.
A direct labor overtime premium should be charged to a
specific job when the overtime is caused by the
46.
In a job cost system, manufacturing overhead is
47.
Birk Co. uses a job order cost system. The following debits
(credits) appeared in Birk's work in process account for the month
of April 2005: Birk applies overhead to production at a
predetermined rate of 80% of the direct labor cost. Job No. 5, the
only job still in process on April 30, 2005, was charged with direct
labor of $2,000. What was the amount of direct materials charged
to Job No. 5?
47.
48.
A job order cost system uses a predetermined factory
overhead rate based on expected volume and expected fixed cost.
At the end of the year, under applied overhead might be explained
by which of the following situations?
49.
A standard cost system may be used in
50.
During the current year, the following manufacturing activity
took place for a company's products: Beginning work in process:
10,000 units, 70% complete, Units started into production during
the year: 150,000 units, Units completed during the year: 140,000
units, Ending work in process: 20,000 units, 25% complete. What
was the number of equivalent units produced using the first-in,
first-out method?
51.
Yarn Co.'s inventories in process were at the following stages
of completion on April 30, 2004:
52.
The forming department is the first of a two-stage production
process. Spoilage is identified when the units have completed the
forming process. The costs of spoiled units are assigned to units
completed and transferred to the second department in the period