Question 1- The beginning Work-in-Process inventory plus the total of the manufacturing costs equals
total finished goods during the period.
cost of goods sold for the period.
total work-in-process during the period.
cost of goods manufactured for the period.
Question 2- The Manufacturing Company recorded overhead costs of $14,182 at an activity level of 4,200 machine hours and $8,748 at 2,300 machine hours. What is the total estimated cost for 2,800 machine hours using the high-low method to estimate the cost equation?
$10,178
$9,606
$12,180
$8,788
Question 3- The predetermined manufacturing overhead rate for the year was $4.00 per direct labor hour; employees were paid $5.00 per hour. If the estimated direct labor cost was $50,000, what was the estimated manufacturing overhead?
$60,000
$70,000
$50,000
$40,000
Question 4- Concrete Company produces quick-setting concrete mix. Production of 200,000 tons was started in April, and 190,000 tons were completed. Material costs were $3,152,000 for the month while conversion costs were $591,000. There was no beginning work-in-process; the ending work-in-process was 70% complete. What is the material cost of the product that remains in work-in-process?
$315,200
$157,600
$112,000
$160,000