12 & 13 are based on the following information. The following cost data relates to Bruno Company for the year 2008:   Estimated manufacturing overhead costs         $240,000 Estimated direct labour cost                                300,000 Estimated direct labour hours                                30,000 Actual direct labour cost                                       315,000 Actual direct labour hours                                     33,000 Allocation base:                                    Direct labour cost Other expenses (Actual): Factory depreciation on equipment      $65,300 Factory rent                                            51,000 Factory utilities                                       28,900 Factory property taxes                            26,000 Indirect labour                                        23,800 Indirect materials                                   32,000 Sales commissions                                 52,500   12. Manufacturing overhead allocated for 2008 is: (A) $252,000 (B) $450,450 (C) $210,000 (D) $220,500 13. The entry to dispose of the manufacturing overhead variance is: (A) Manufacturing Overhead                      Cost of Goods Sold $25,000   $25,000 (B) Cost of Goods Sold                      Manufacturing Overhead $25,000   $25,000 (C) Manufacturing Overhead                          Cost of Goods Sold $17,000   $17,000 (D) Cost of Goods Sold                      Manufacturing Overhead $17,000   $17,000

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Chapter1: Financial Statements And Business Decisions
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Questions 12 & 13 are based on the following information.

The following cost data relates to Bruno Company for the year 2008:

 

Estimated manufacturing overhead costs         $240,000

Estimated direct labour cost                                300,000

Estimated direct labour hours                                30,000

Actual direct labour cost                                       315,000

Actual direct labour hours                                     33,000

Allocation base:                                    Direct labour cost

Other expenses (Actual):

Factory depreciation on equipment      $65,300

Factory rent                                            51,000

Factory utilities                                       28,900

Factory property taxes                            26,000

Indirect labour                                        23,800

Indirect materials                                   32,000

Sales commissions                                 52,500

 

12. Manufacturing overhead allocated for 2008 is:

(A) $252,000

(B) $450,450

(C) $210,000

(D) $220,500

13. The entry to dispose of the manufacturing overhead variance is:

(A)

Manufacturing Overhead

                     Cost of Goods Sold

$25,000

 

$25,000

(B)

Cost of Goods Sold

                     Manufacturing Overhead

$25,000

 

$25,000

(C)

Manufacturing Overhead

                         Cost of Goods Sold

$17,000

 

$17,000

(D)

Cost of Goods Sold

                     Manufacturing Overhead

$17,000

 

$17,000

 

 

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