1. Given the following: Transfers In $30,000; Transfers Out: $36,000; Ending Inventory: $6,000. Compute the beginning balance?
a. $12,000
b. $0
c. $10,000
d. $18,000
Use following to reply questions 2 and 3: Mansfield Corporation evaluates its manufacturing overhead costs to be= $160,000 and its direct labor costs to be= $320,000 for 2007. Actual manufacturing labor costs were $80,000 for job 1, $120,000 for job 2 and $160,000 for job 3 in 2007. Manufacturing overhead is applied to jobs on the basis of direct labor costs by using predetermined overhead rate. Actual manufacturing overhead cost for year was $172,000.
2. Amount of overhead allocated to Job 3 during 2007 was:
a. $80,000
b. $320,000
c. $160,000
d. $71,110
3. Amount of manufacturing overhead variance in 2007 was:
a. 8,000 Overapplied
b. $12,000 Overapplied
c. $12,000 Underapplied
d. $8,000 Underapplied
4. Salaries of human resource staff responsible for hiring production personnel at Dell Computer would be example of:
a. Unit-level activity
b. Facility-level activity
c. Batch-level activity
d. Product-level activity
5. Setup labor costs needed for setting up equipment for flexible production facilities for manufacturing would be the example of:
a. Unit-level activity
b. Batch-level activity
c. producer-level activity
d. customer-level activity