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overhead. Of this amount, $820,000 is associated with the Large Case
line, $1,276,800 is associated with the Medium Case line, and
$1,261,000 is associated with the Small Case line. Handy Display
Company is currently running a total of 33,000 machine hours: 10,000 in
the Large Case line, 13,300 in the Medium Case line, and 9,700 in the
Small Case line. Handy Display Company uses machine hours as the
cost driver for manufacturing overhead costs.
7. (TCO 2)
Fred Co. incurred costs of $800,000 for direct materials (raw) purchased.
Direct labor was $5,000 and factory overhead was $15,000 for March.
Inventories were as follows:
Raw materials beginning $2,000; raw materials ending $4,000;
Work-in-process beginning $210,000; work-in-process ending $190,000;
Finished goods beginning $13,000; finished goods ending $12,500;
What is the cost of goods manufactured? Please show your work.
(Points : 30)
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ACCT 346 Midterm Set 2 (New)
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Multiple Choice
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