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