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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.
Overhead cost
Direct labor hours
Direct labor cost
Estimated
$174,000
5,800
$90,155
Actual
$171,000
5,900
$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 labor
hours for 20x1 were 140,000, and actual overhead was $2,400,000.
What is the amount of under- or over-applied overhead for the year?
(Points : 7)
1. (TCO 1) Which of the following topics is the focus of managerial
accounting? (Points : 7)