its an managerial accounting test

JUST answer all 40 questions without explanation just answers , and please highlight the correct answers i need them all right because i need to get high grade on this test 1. In May, one of the processing departments at Stitzel Corporation had beginning work in process inventory of $38,000 and ending work in process inventory of $14,000. During the month, the cost of units transferred out from the department was $429,000. In the department's cost reconciliation report for May, the total cost to be accounted for under the weighted-average method would be: 1-$481,000 2-$443,000 3-$467,000 4-$52,000 2.In April direct labor was 55% of conversion cost. If the manufacturing overhead for the month was $82,800 and the direct materials cost was $21,700, the direct labor cost was: 1-$87,200 2-$70,533 3-$156,200 4-$101,200 3.Trapp Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 4,000 units that were 80% complete with respect to materials and 70% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $16,000. During the period, 15,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $2.5 for material and $3.3 for conversion costs. The cost of units transferred out during the month was: 1-$79,500 2-$87,000 3-$91,390 4-$72,150 4.During the month of April, direct labor cost totaled $13,400 and direct labor cost was 40% of prime cost. If total manufacturing costs during April were $73,000, the manufacturing overhead was: 1-$39,500 2-$50,000 3-$33,500 4-$10,500 5.Adams Company has two products: A and B. The annual production and sales of Product A is 2,250 units and of Product B is 1,650 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.5 direct labor-hours per unit and Product B requires 0.8 direct labor-hours per unit. The total estimated overhead for next period is $104,900. The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and General Factory--with estimated overhead costs and expected activity as follows: Activities Estimated Overhead cost Expected Activity Product A Product B Total Activity 1 $32,414 1,550 1,150 2,700 Activity 2 18,462 2,250 750 3,000 General Factory 54,024 1,125 1,320 2,445 Total $104,900 (Note: The General Factory activity cost pool's costs are allocated on the basis of direct labor-hours.) The predetermined overhead rate under the traditional costing system is closest to: 1-$6.15 2-$22.10 3-$42.90 4-$12.01 6.The following costs were incurred in April: Direct materials $44,200 Direct labor $31,800 Manufacturing overhead $25,200 Selling expenses $22,100 Administrative expenses $37,100 Conversion costs during the month totaled: 1-$160,400 2-$69,400 3-$57,000 4-$76,000. 7.At the beginning of the year, manufacturing overhead for the year was estimated to be $262,990. At the end of the year, actual direct labor-hours for the year were 22,600 hours, the actual manufacturing overhead for the year was $262,600, and manufacturing overhead for the year was overapplied by $6,340. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been: (Round your intermediate calculations to 2 decimal places.) 1-21,700 direct labor-hours 2-20,600 direct labor-hours 3-22,600 direct labor-hours 4-22,100 direct labor-hours 8.Rariton Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January. Units Percent Complete with Respect to Conversion Beginning work in process inventory 3,700 89% Transferred in from the prior department during January 56,400 Completed and transferred to the next department during January 56,200 Ending work in process inventory 3,900 89% The Molding Department's cost per equivalent unit for conversion cost for January was $8.09. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January? (Round your final answer to nearest whole dollar.) 1- $3,471 2- $31,551 3- $28,080 4- $28,580 9.Gould Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Activities Activity Rate Setting up batches $81.75 per batch Processing customer orders $73.23 per customer order Assembling products $8.76 per assembly hour Data concerning two products appear below: Product V09X Product A09X Number of batches 69 12 Number of customer orders 20 9 Number of assembly hours 492 697 .How much overhead cost would be assigned to Product V09X using the activity-based costing system? 1- $163.74 2- $102,737.43 3- $11,415.27 4- $5,640.75 10.Jimmy Corporation uses the weighted-average method in its process costing system. The ending work in process inventory consists of 17,000 units. The ending work in process inventory is 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for the period is $4.10 for material and $2.10 for labor and overhead, what is the balance of the ending work in process inventory account would be: (Do not round Cost per equivalent unit) 1- $91,120 2- $105,400 3- $69,200 4- $82,620 11.The controller of Hartis Company estimates the amount of materials handling overhead cost that should be allocated to the company's two products using the data that are given below: Wall Mirrors Specialty Windows Total expected units produced 8,600 3,500 Total expected material moves 860 1,060 Direct labor-hours per unit 5 4 The total materials handling cost for the year is expected to be $20,777.60. If the materials handling cost is allocated on the basis of direct labor-hours, how much of the total materials handling cost should be allocated to the wall mirrors? (Round your intermediate calculation to four decimal places. Round your final answer to nearest whole dollar.) 1- $43,000 2- $15,674 3- $10,571 4- $10,389 12.Cribb Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 13,200 hours and the total estimated manufacturing overhead was $337,920. At the end of the year, actual direct labor-hours for the year were 12,800 hours and the actual manufacturing overhead for the year was $323,490. Overhead at the end of the year was: (Round your intermediate calculations to 2 decimal places.) 1- $4,190 over applied 2- $9,190 under applied 3- $4,190 under applied 4- $9,190 over applied 13.Abbott Company's manufacturing overhead is 40% of its total conversion costs. If direct labor is $78,000 and if direct materials are $27,200, the manufacturing overhead is: 1- $26,500 2- $83,500 3- $20,333 4- $52,000 14.The Assembly Department started the month with 22,000 units in its beginning work in process inventory. An additional 295,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 47,250 units in the ending work in process inventory of the Assembly Department. how many units were transferred to the next processing department during the month? 1- 364,250 2- 317,000 3- 320,250 4- 269,750 15.Adams Company has two products: A and B. The annual production and sales of Product A is 2,650 units and of Product B is 2,050 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.4 direct labor-hours per unit and Product B requires 0.7 direct labor-hours per unit. The total estimated overhead for next period is $109,300. The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and General Factory--with estimated overhead costs and expected activity as follows: Total Estimated Overhead Costs Expected Activity Product A Product B Total Activity 1 $33,774 1,950 1,550 3,500 Activity 2 19,237 2,650 1,150 3,800 General Factory 56,289 1,060 1,435 2,495 Total $109,300 (Note: The General Factory activity cost pool's costs are allocated on the basis of direct labor-hours.) The overhead cost per unit of Product B under the traditional costing system is closest to: 1- $30.67 2- $16.91 3- $13.76 4- $15.15 16.Angara Corporation uses activity-based costing to determine product costs for external financial reports. The company has provided the following data concerning its activity-based costing system: Activities (and Activity Measures) Estimated Overhead Cost Machine related (machine-hours) $336,600 Batch setup (setups) $382,260 General factory (direct labour-hours) $274,500 Expected Activity Activities Product X Product Y Total Machine related 5,600 7,600 13,200 Batch setup 11,200 2,600 13,800 General factory 4,600 7,600 12,200 17.Assuming that actual activity turns out to be the same as expected activity, the total amount of overhead cost allocated to Product X would be closest to: 1- $382,260 2- $826,620 3- $444,360 4- $556,540 18.David Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 21,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $134,200. An additional 87,000 units were started into production during the month. There were 22,000 units in the ending work in process inventory of the Welding Department that were 15% complete with respect to conversion costs. A total of $422,250 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month? (Round your final answer to 3 decimal places.) 1- $6.231 2- $6.470 3- $6.396 4- $4.728 19.Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 48,000 actual direct labor-hours and incurred $644,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 46,000 direct labor-hours during the year and incur $598,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was: 1- over applied by $20,000 2- under applied by $26,000 3- over applied by $26,000 4- under applied by $20,000 20.Harker Corporation uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 23,000 units in its beginning work in process inventory that were 15% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $45,010. An additional 81,000 units were started into production during the month and 85,000 units were completed in the Welding Department and transferred to the next processing department. There were 19,000 units in the ending work in process inventory of the Welding Department that were 15% complete with respect to conversion costs. A total of $680,000 in conversion costs were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to: 1- $6.249 2- $8.395 3- $8.253 4- $8.441 21.Abraham Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 1,500 units and of Product B is 900 units. There are three activity cost pools, with estimated costs and expected activity as follows: Activities Estimated Overhead Cost Expected Activity Product A Product B Total Activity 1 $33,839 1,000 900 1,900 Activity 2 $53,703 2,000 700 2,700 Activity 3 $67,850 600 580 1,180 The overhead cost per unit of Product A is closest to: 1- $61.39 2- $64.75 3- $70.34 4- $42.20 22.Adams Company has two products: A and B. The annual production and sales of Product A is 1,750 units and of Product B is 1,150 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.4 direct labor-hours per unit and Product B requires 0.7 direct labor-hours per unit. The total estimated overhead for next period is $99,400. The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and General Factory--with estimated overhead costs and expected activity as follows: Activities Cost Pools Estimated Overhead Costs Expected Activity Product A Product B Total Activity 1 $30,715 1,050 650 1,700 Activity 2 17,494 1,750 250 2,000 General Factory 51,191 565 720 1,285 Total $99,400 (Note: The General Factory activity cost pool's costs are allocated on the basis of direct labor-hours.) The predetermined overhead rate (i.e., activity rate) for Activity 2 under the activity-based costing system is closest to: 1- $8.75 2- $49.70 3- $79.68 4- $10.00 23.Job 593 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $2,414 Direct labor-hours 74 labor-hours Direct labor wage rate $ 17 per labor-hour Machine-hours 137 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $18 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 593 would be: 1- $3,672 2- $6,138 3- $6,978 4- $3,462 24.Cardiv Corporation has provided the following production and average cost data for two levels of monthly production volume. The company produces a single product. Production volume 4,800 units 5,800 units Direct materials $79.90 per unit $79.90 per unit Direct labor $52.20 per unit $52.20 per unit Manufacturing overhead $75.40 per unit $70.40 per unit .The best estimate of the total cost to manufacture 5,400 units is closest to: (Do not round intermediate calculations.) 1- $1,109,805 2- $1,103,100 3- $1,120,980 4- $1,071,810 25.Laci Corporation’s is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $134.00 per unit Sales volume (units) 14,100 15,460 Cost of sales $1,085,700 $1,190,420 Selling and administrative costs $625,000 $650,840 The best estimate of the total contribution margin when 15,160 units are sold is: 1- $690,110 2- $576,080 3- $259,470 4- $344,070 26.Buker Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours 72,100 Estimated variable manufacturing overhead $3.00 per machine-hour Estimated total fixed manufacturing overhead $838,740 the predetermined overhead rate for the recently completed year was closest to: 1- $6.83 2- $14.63 3- $8.60 4- $9.00 27.Dagger Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $231,750. At the end of the year, actual direct labor-hours for the year were 17,500 hours, manufacturing overhead for the year was under applied by $12,500, and the actual manufacturing overhead was $227,750. The predetermined overhead rate for the year must have been closest to: 1- $13.24 2- $12.30 3- $11.43 4- $12.96 28.The following data have been recorded for recently completed Job 323 on its job cost sheet. Direct materials cost was $2,103. A total of 35 direct labor-hours and 263 machine-hours were worked on the job. The direct labor wage rate is $17 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $19 per machine-hour. The total cost for the job on its job cost sheet would be: 1- $4,651 2- $7,695 3- $5,070 4- $9,840 29.At an activity level of 8,500 machine-hours in a month, Curt Corporation's total variable production engineering cost is $748,850 and its total fixed production engineering cost is $177,760. What would be the total production engineering cost per unit, both fixed and variable, at an activity level of 8,800 machine-hours in a month? Assume that this level of activity is within the relevant range. (Do not round intermediate calculations.) 1-$107.95 2- $107.41 3- $108.30 4- $108.48. 30.During October, Beidleman Inc. transferred $63,300 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $68,310. The journal entries to record these transactions would include a: 1- credit to Cost of Goods Sold of $68,310 2- credit to Finished Goods of $63,300 3- debit to Finished Goods of $68,310 4- credit to Work in Process of $63,300 31.Valley Manufacturing Corporation's beginning work in process inventory consisted of 12,500 units, 100% complete with respect to materials cost and 30% complete with respect to conversion costs. The total cost in the beginning inventory was $35,000. During the month, 55,000 units were transferred out. The equivalent unit cost was computed to be $2.5 for materials and $3.9 for conversion costs under the weighted-average method. Given this information, the total cost of the units completed and transferred out was: 1- $353,025 2- $287,650 3- $321,775 4- $352,000 32.Sarver Corporation uses the weighted-average method in its process costing system. The Fitting Department is the second department in its production process. The data below summarize the department's operations in March. (Do not round Cost per equivalent unit.) Units Percent Complete with Respect to Conversion Beginning work in process inventory 7,500 80% Transferred in from the prior department during March 53,300 Ending work in process inventory 5,100 70% The Fitting Department's cost per equivalent unit for conversion cost for March was $9.56. How much conversion cost was assigned to the units transferred out of the Fitting Department during March? 1-$509,548 2- $532,492 3- $ 566,621 4- $581,248 33.Soledad Corporation had $23,500 of raw materials on hand on December 1. During the month, the Corporation purchased an additional $81,900 of raw materials. The journal entry to record the purchase of raw materials would include a: 1-credit to Raw Materials of $105,400 2- debit to Raw Materials of $81,900 3-credit to Raw Materials of $81,900 4- debit to Raw Materials of $105,400 34.During October, Dorinirl Corporation incurred $68,500 of direct labor costs and $4,800 of indirect labor costs. The journal entry to record the accrual of these wages would include a: 1-credit to Work in Process of $73,300 2- debit to Work in Process of $68,500 3-debit to Work in Process of $73,300 4- credit to Work in Process of $68,500. 35.The following costs were incurred in April: Direct materials $46,600 Direct labor $23,300 Manufacturing overhead $24,800 Selling expenses $19,600 Administrative expenses $36,700 Prime costs during the month totaled. 1- $151,000 2- $94,700 3- $69,900 4- $48,10. 36.A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $2,850 and is paid at the beginning of the first year. Seventy percent of the premium applies to manufacturing operations and thirty percent applies to selling and administrative activities. What amounts should be considered product and period costs respectively for the first year of coverage? Product Period 1- $2,850 $0 2- $1,995 $855 3- $1,330 $570 4- $665 $285 37. Baker Corporation’s has provided the following production and average cost data for two levels of monthly production volume. The company produces a single product. Production volume 5,900 units 6,900 units Direct materials $97.70 per unit $97.70 per unit Direct labor $26.60 per unit $26.60 per unit Manufacturing overhead $79.60 per unit $73.60 per unit The best estimate of the total variable manufacturing cost per unit is: 1-$124.30 2-$162.50 3-$182.90 4-$171.30 38.Baker Corporation uses the weighted-average method in its process costing system. The Assembly Department started the month with 10,400 units in its beginning work in process inventory that were 90% complete with respect to conversion costs. An additional 101,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 17,000 units in the ending work in process inventory of the Assembly Department that were 90% complete with respect to conversion costs. What were the equivalent units for conversion costs in the Assembly Department for the month? 1-100,340 2-109,700 3-107,600 4-94,400 39.Doubles Corporation has provided the following data from its activity-based costing system: Activities Estimated Overhead Cost Expected Activity Assembly $962,280 66,000 machine-hours Processing orders $89,370 1,800 orders Inspection $131,222 1,820 inspection-hours The company makes 430 units of product D28K a year, requiring a total of 690 machine-hours, 40 orders, and 10 inspection-hours per year. The product's direct materials cost is $36.14 per unit and its direct labor cost is $29.88 per unit. According to the activity-based costing system, the unit product cost of product D28K is closest to: 1- $95.71 per unit 2- $86.68 per unit 3- $66.02 per unit 4- $94.09 per unit 40.Pat Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A is 2,900 units and of Product B is 1,600 units. There are three activity cost pools, with estimated costs and expected activity as follows: Activities Estimated Overhead Cost Expected Activity Product A Product B Total Activity 1 $103,447 2,400 2,300 4,700 Activity 2 $128,645 3,400 2,100 5,500 Activity 3 $138,690 1,160 1,140 2,300 The overhead cost per unit of Product A under activity-based costing is closest to: rev: 09_24_2015_QC_CS-25627 1- $161.21 2- $61.26. 3- $40.82 4- $69.76 . Walbor Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 20,500 units, 100% complete with respect to materials cost and 30% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $26,200. A total of 58,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $2.1 for materials and $3.8 for conversion costs. The total cost of the units completed and transferred out of the department was: 1- $342,200 2- $373,660 3- $276,080 4- $330,610