Chapter 16, Problem 4QS

which of the following correct?

The following cost data relate to the office overhead costs of Hamilton Accounting Services during the just-completed year: • Office rent: $32,400 Office supplies: $6,980 • Utilities, office: $18,250 • Salary, office manager: $62,180 • Salary, receptionist: $40,560 • Depreciation-office equipment: $13,750 • Software licensing fees: $27,320 • Other miscellaneous expenses: $35,600 Total overhead costs: $237,040 The company applies overhead costs using a predetermined overhead rate of $7 per accountant hour. A total of 36,200 accountant hours was recorded for the year. Compute the amount of under- or overapplied overhead cost for the year.

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Frick Company uses a job order cost system and applies overhead based on estimated rates. The overhead application rate is based on total estimated overhead costs of $240,000 and direct labor hours of 60,000. For job 945, direct labor hours were 900. Which of the following is correct? a. Factory Overhead should be debited for $3,600. b. Factory Overhead should be credited for $3,600. c. Overhead Expense should be debited for $3,600. d. Overhead Expense should be credited for $3,600. e. None of these.

Unit costs for materials and conversion cost amount to $4 and $5 respectively. The ending work in process costs for 8,000 units (100% result as to material and 70% result as to conversion costs) amount to A) $60,000. B) $72,000. C) $44,000. D) $40,000.

In 2019, a company reported sales revenue of Landon Manufacturing Company produced 2,000 units of inventory in March 2023. It expects to produce an additional 18,000 units during the remaining nine months of the year, resulting in an estimated total production of 20,000 units for 2023. The direct materials and direct labor costs per unit are $72 and $60, respectively. The company expects to incur the following manufacturing overhead costs for the 2023 accounting period: ⚫ Production supplies: $12,000 • Supervisor salary: $200,000 Depreciation on equipment: $80,000 ⚫ Utilities: $25,000 • Rental fee on manufacturing facilities: $55,000 a. Combine the individual overhead costs into a cost pool and calculate a predetermined overhead rate assuming the cost driver is the number of units. b. Determine the total cost of the 2,000 units produced in March.

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