Question: choose the correct answer 1.If we prorate underapplied or overapplied manufacturing overhead, we can assign amounts the following accounts: ________. Raw-Material Inventory, Work-in-Process Inventory, and

choose the correct answer

1.If we prorate underapplied or overapplied manufacturing overhead, we can assign amounts the following accounts: ________.

Raw-Material Inventory, Work-in-Process Inventory, and Finished-Goods Inventory.

Cost of Goods Sold, Work-in-Process Inventory, and Finished-Goods Inventory.

Raw-Material Inventory, Manufacturing Overhead, and Direct Labor.

Work-in-Process Inventory, Raw-Material Inventory, and Cost of Goods Sold.

2, Razon Company recently purchased materials from a new supplier at a very attractive price. The materials were found to be of poor quality, and the company's laborers struggled significantly as they shaped the materials into finished product.

In a desperation move to make up for some of the time lost, the manufacturing supervisor brought in more-senior employees from another part of the plant. Which of the following variances would have a high probability of arising from this situation?

All of the answers are correct.

Material price variance, favorable.

All of the answers are wrong.

Labor rate variance, unfavorable.

Material quantity variance, unfavorable.

2.LCW Corporation had a favorable direct-labor efficiency variance of AED6,000 for the period just ended. The actual wage rate was AED0.50 more than the standard rate of AED12.00. If the company's standard hours allowed for actual production totaled 9,500, how many hours did the firm actually work?

902

900

9,020

9,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Looking back over the last few years, it is clear that Nicole Mackisey has accomplished a lot running her business, Nicoles Getaway Spa (NGS). Nicole is curious about her companys performance as she...

of stion When underapplied or overapplied manufacturing overhead is prorated, amounts can be assigned to which of the following accounts? a. Work-in-Process Inventory, Raw-Material Inventory, and...

When underapplied or overapplied manufacturing overhead is prorated, amounts can be assigned to which of the following accounts? Multiple Choice Raw - Material Inventory, Manufacturing Overhead, and...

fast plz answer 1and 2 All the following companies is most likely to use a process accounting system, EXCEPT: Question 1 Not yet answered Marked out of 0.50 O a Shoes-making company O b. Medical...

Which of the following is correct with respect to closing out overapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory, Finished Goods Inventory,...

Please help me with the right option Which of the following is correct with respect to closing out overapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process...

Question 11 Which of the following is correct with respect to closing out overapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory, Finished Goods...

Which of the following is correct with respect to closing out overapplied manufacturing overhead to Cost of Goods Sold versus closing it out to Work-in-Process Inventory, Finished Goods Inventory,...

Here's how the answer suppose to look like. Fill in the "item" tab. Compromisine Review Problem P O 110 Geronimo Tire Manufacturing Company The comprehensive problem that follows covers the entire...

Suppose a portfolio has assets that are worth $80 million, and the Nasdaq 100 index is currently 6400. Assume that the beta of the portfolio with respect to the index is 0.8, and there is no alpha....

Handy Home sells windows (30% of sales) and doors (70% of sales). The selling price of each window is $250 and of each door is $600. The variable cost of each window is $150 and of each door is $400....

According to data collected from exit surveys, what accounted for the rapid turnover of high - performing employees at Sprint PCS ? a . lack of social networks b . ongoing layoffs c . lack of...

Refer to Practice 9-8. Assume that the company has no expenses except for cost of goods sold, the selling price per unit is $6 in each year, and that the income tax rate is 40%. Compute the total...

The unadjusted trial balance of PS Music as of July 31, 2016, along with the adjustment data for the two months ended July 31, 2016, are shown in Chapter 3. Based upon the adjustment data, the...

Match threats in the first column to appropriate control procedures in the second column. More than one control may be applicable. Threat Control 1. Failing to take available purchase discounts for...

Several years ago, your firm paid $ 25,000,000 for Clean Tooth, a small, high- technology company that manufactures laser- based tooth cleaning equipment. Unfortunately, due to extensive production...

Refer to Practice 9-8. Compute the following: 1. LIFO reserve at the end of Year 4. 2. Cost of goods sold for Year 4. 3. Cost of goods sold for Year 4 assuming that units purchased had been 75...

11.15 Management has stated that it will tolerate one stockout per year. The forecast of annual demand for a particular SKU is 100,000 units, and it is ordered in quantities of 10,000 units. The lead...

4. What is meant by the statement: We are extremely limited in our willingness to allow others to put their own case in a social situation?.

8. Give three examples of how the level of confidence one has in someone can affect a communication situation.

7. List examples from a communication situation with a foreign person in which you have used the sauna manoeuvre (described in this chapter), and examples where you have been subjected to the...