The entry for indirect materials (such as glue, etc.) requisitioned for use in production is which of the following?

Question 10 options:

Raw Materials Inventory

Work-in-Process Inventory

Work-in-Process Inventory

Accounts Payable

Work-in-Process Inventory

Raw Materials Inventory

None of the above

If direct labor for the month is $40,000, overhead is applied based on direct labor, annual overhead is $600,000, and annual direct labor is $1,000,000, what is the entry to charge direct labor to production?

Question 11 options:

DEBIT OVERHEADAPPLIED $40,000; CREDIT WORK-IN-PROCESS INVENTORY $40,000

DEBIT WORK-IN-PROCESS INVENTORY $24,000; CREDIT OVERHEADAPPLIED $24,000

DEBIT WORK-IN-PROCESS INVENTORY $40,000; CREDIT PAYROLL $40,000

DEBIT WORK-IN-PROCESS INVENTORY $66,000; CREDIT OVERHEADAPPLIED $66,000

During the week ending on November 30, total factory payroll incurred was $6,000. Of this total, 80% was for direct labor. The entry to record the payroll distribution would include which of the following?

Question 12 options:

DEBIT WORK-IN-PROCESS INVENTORY $4,800 AND OVERHEADCONTROL $1,200

DEBIT WORK-IN-PROCESS INVENTORY $4,800 AND OVERHEADAPPLIED $1,200

DEBIT WORK-IN-PROCESS INVENTORY $4,800 AND INDIRECT LABOR EXPENSE $1,200

DEBIT WORK-IN-PROCESS INVENTORY $6,000

Direct labor includes the wages of

Question 13 options:

ADMINISTRATORS.

MAINTENANCE WORKERS.

THE SHOP FOREMAN.

AN HOURLY WORKER PRODUCING THE PRODUCT.

What is the journal entry to record issuing supplies from the storeroom?

Question 14 options:

DEBIT OVERHEADCONTROL; CREDIT SUPPLIES INVENTORY

DEBIT SUPPLIES INVENTORY; CREDIT OVERHEADAPPLIED

DEBIT OVERHEADAPPLIED; CREDIT RAW MATERIALS INVENTORY

DEBIT OVERHEADAPPLIED; CREDIT SUPPLIES INVENTORY

The entry to record the requisition of supplies from the storeroom would include which of the following?

Question 15 options:

DEBIT TO OVERHEADCONTROL; CREDIT TO SUPPLIES INVENTORY

DEBIT TO RAW MATERIALS; CREDIT TO WORK-IN-PROCESS

DEBIT TO WORK-IN-PROCESS; CREDIT TO OVERHEADCONTROL

DEBIT TO OVERHEADAPPLIED; CREDIT TO OVERHEADCONTROL

Calculate the cost of goods sold when beginning finished goods inventory equals $70,000, ending finished goods inventory is $85,000, and cost of goods manufactured is $600,000.

Question 16 options:

$445,000

$585,000

$685,000

$615,000

Journal entries crediting Payroll and debiting Work-in-Process Inventory are made for

Question 17 options:

FOREMEN'S SALARIES.

ADMINISTRATIVE SALARIES.

HOURLY MANUFACTURING LABOR.

RAW MATERIALS.

Lumber used in construction of a building is part of

Question 18 options:

RAW MATERIAL COSTS.

LABOR COSTS.

MANUFACTURING OVERHEAD.

NONE OF THE ABOVE

The entry to record rent expense of $9,000, supervision expense of $19,000, and depreciation expense of $7,000 to overhead is which of the following?

Question 19 options:

DEBIT OVERHEADAPPLIED $35,000; CREDIT RENT EXPENSE $9,000; CREDIT SUPERVISION $19,000; CREDIT DEPRECIATION EXPENSE $7,000

DEBIT OVERHEADCONTROL $35,000; CREDIT RENT EXPENSE $9,000; CREDIT SUPERVISION $19,000; CREDIT DEPRECIATION EXPENSE $7,000

DEBIT OVERHEADAPPLIED $35,000; CREDIT OVERHEADCONTROL $35,000

NONE OF THE ABOVE

The statement of cost of goods manufactured includes

Question 20 options:

DIRECT LABOR COSTS.

RAW MATERIAL COSTS.

MANUFACTURING OVERHEAD.

ALL OF THE ABOVE