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    Quiz No. 1 Part 3 Multiple Choice Problems Attempt Review

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    Quiz No. 1 Part 3 Multiple Choice Problems Attempt Review

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    Quiz-No.-1-Part-3-Multiple-Choice-Problems-Attempt-review

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    137 views1 page

    Quiz No. 1 Part 3 Multiple Choice Problems Attempt Review

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    Ely Rivera
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    Dashboard / My courses

    / ACCTG201 SY20-21 3045

    / Job Order Costing

    / Quiz No. 1 Part 3 Multiple Choice Problems

    Started on Monday, 9 November


    2020, 4:42 PM
    State Finished
    Completed on Monday, 9 November
    2020, 4:58 PM
    Time taken 15 mins 16 secs

    Question 1

    Complete

    Marked out of 1.00

    Flag question

    The accounting records for 2019 of EGGS


    Manufacturing Company showed the
    following information:
    Increase in raw materials P45,000
    inventory
    Decrease in Finished goods 150,000
    inventory
    Increase in Work-in-Process 60,000
    inventory
    Raw materials purchased 1,290,000
    Direct labor payroll 600,000
    Factory overhead 900,000
    Freight out 135,000

    The cost of raw materials used for the period


    amounted to

    a. P1,245,000

    b. P1,335,000

    c. P1,380,000

    d. P1,290,000

    Question 2

    Complete

    Marked out of 1.00

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    Work in process of Alonzo Corporation on


    July 1, 2019 (per general ledger) is P22,800.
    Job 101 Job 102
    Direct materials P6,000 P8,000
    Direct labor 3,000 2,500

    Amount charged to Work in process for July,


    2019
    Job 101 Job 102 Job 103 Job 104
    Direct P3,000 P2,000 P6,000 P4,500
    materials
    Direct labor 1,000 1,500 2,600 2,000

    Factory overhead is applied to production


    based on direct labor cost. Job 101 and 103
    are completed during the month.
    Cost of goods put into process must be:

    a. P42,100

    b. P42,100

    c. P49,660

    d. P45,400

    Question 3

    Complete

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    The cost of goods manufactured for the


    month of July is

    a. P21,600

    b. P31,800

    c. P25,560

    d. P15,400

    Question 4

    Complete

    Marked out of 1.00

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    Marco Corporation has a job order cost


    system. The following debits (credits)
    appeared in the general ledger account work-
    in-process for the month of September, 2019:
    September 1 Balance P12,000
    September 30, direct materials 40,000
    September 30, direct labor 30,000
    September 30, factory 27,000
    overhead
    September 30, to finished (100,000)
    goods

    Marco applies overhead to production at a


    predetermined rate of 90% based on direct
    labor cost. Job no. 232, the only job still in
    process at the end of September, 2019, has
    been charged with factory overhead of
    P2,250.

    What was the amount of direct materials


    charged to Job 232 as at the end of
    September, 2019?

    a. P2,500

    b. P2,250

    c. P9,000

    d. P4,250

    Question 5

    Complete

    Marked out of 1.00

    Flag question

    The accounting records for 2019 of Wagner


    Music Co. showed the following:
    Decrease in raw materials P45,000
    inventory
    Decrease in finished goods 150,000
    inventory
    Raw materials purchased 1,290,000
    Direct labor payroll 600,000
    Factory overhead 900,000
    Freight-out 135,000

    The cost of raw materials used for the period


    amounted to

    a. P1,290,000

    b. P1,380,000

    c. P1,245,000

    d. P1,335,000

    Question 6

    Complete

    Marked out of 1.00

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    The following information pertains to Alma


    Co., manufacturing process
    2019
    March 1 March 31
    Inventories
    Direct materials P36,000 P30,000
    Work in process 18,000 12,000
    Finished goods 54,000 72,000
    Additional information for the month of March:
    Direct materials 84,000
    purchased
    Direct labor payroll 60,000
    Direct labor rate per 7.50
    hour
    Factory overhead rate per direct 10.00
    labor hour

    How much must be the prime cost for the


    month?

    a. P150,000

    b. P90,000

    c. P150,000

    d. P144,000

    Question 7

    Complete

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    How much must be the cost of goods


    manufactured for the month?

    a. P230,000

    b. P296,000

    c. P236,000

    d. P236,000

    Question 8

    Complete

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    How much is the conversion cost for the


    month?

    a. P170,000

    b. P60,000

    c. P140,00

    d. P140,000

    Question 9

    Complete

    Marked out of 1.00

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    Products at Redd Manufacturing are sent


    through two production departments:
    Fabricating and Finishing. Overhead is
    applied to products in the Fabricating
    Department based on 150 percent of direct
    labor cost and $18 per machine hour in
    Finishing. The following information is
    available about Job #297:

    Fabricating Finishing
    Direct material P1,590 P580
    Direct labor cost ? 48
    Direct labor hours 22 6
    Machine hours 5 15
    Overhead applied 429 ?

    What is the total cost of Job #297?

    a. P3,203

    b. P3,093

    c. P3,005

    d. P2,647

    Question 10

    Complete

    Marked out of 1.00

    Flag question

    Cajun Company. uses a job order costing


    system. During April 20X9, the following costs
    appeared in the Work in Process Inventory
    account:

    Beginning balance P 24,000


    Direct material used 70,000
    Direct labor incurred 60,000
    Applied overhead 48,000
    Cost of goods manufactured 185,000

    Cajun Company applies overhead on the


    basis of direct labor cost. There was only one
    job left in Work in Process at the end of April
    which contained P5,600 of overhead. What
    amount of direct material was included in this
    job?

    a. P6,920

    b. P8,000

    c. P4,400

    d. P4,480

    Finish review

    ◀ Quiz No. 1 Part 2 Open-Ended


    Problems

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