Question 2.2 . ( TCO1 ) Josie ’ s Grill budgeted the following costs for a month in which 1,500 steak dinners will be produced and sold : materials , $ 4,080 ; hourly labor ( variable ), $ 5,200 ; rent ( fixed ), $ 1,700 ; depreciation , $ 800 ; and other fixed costs , $ 600 . Each steak dinner sells for $ 14.00 each . How much is the budgeted variable cost per unit ? ( Points : 7 )
Question 3.3 . ( TCO 1 ) Which of the following is NOT a period cost ? ( Points : 7 )
Question 4.4 . ( TCO 1 ) On December 31 , 2015 , GLE Inc . has a balance in the Work-in-Process Inventory account of $ 62,000 . On January 1 , 2015 , the balance was $ 55,000 . Current manufacturing costs for the year are $ 292,000 , and cost of goods sold is $ 284,000 . How much is cost of goods manufactured ? ( Points : 7 )
Question 5.5 . ( TCO 2 ) Paul Company applies manufacturing overhead based on direct labor cost . Information concerning manufacturing overhead and labor for August follows .
|
Estimated |
Actual |
Overhead cost |
$ 174,000 |
$ 171,000 |
Direct labor hours |
5,800 |
5,900 |
Direct labor cost |
$ 90,155 |
$ 87,000 |
How much is the predetermined overhead rate ? ( Points : 7 )
Question 6.6 . ( TCO 2 ) During 2015 , Michael Company applied overhead using a job-order costing system at a rate of $ 15 per direct labor hours . Estimated direct labor hours for the year were 150,000 , and estimated overhead for the year was $ 2,250,000 . Actual direct