Guerry Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period.

  1.  Shaulter Corporation uses a process cost accounting system.  Given the following data, compute the number of units transferred out during the current period.

 

 

 

Beginning work in process                 12,000 units (1/2 complete)

 

Ending work in process                      15,000 units (1/3 complete)

 

Started into production                       80,000 units

 

 

 

  1.  65,000
  2. 75,000
  3. 77,000
  4. 80,000

2,   Guerry Company applies overhead on the basis of machine hours.  Given the following data, compute overhead applied and the under- or overapplication of overhead for the period.

 

Estimated annual overhead cost         $600,000

Actual annual overhead cost              $575,000

Estimated machine hours                   150,000

Actual machine hours                         140,000

 

  1.  $560,000 applied and $15,000 underapplied
  2. $600,000 applied and $15,000 overapplied
  3. $560,000 applied and $15,0000 overapplied
  4. $575,000 applied and neither under- nor overappliedUsing the following information for question 3-4

     

    The department adds raw material to a process at the beginning of the process and incurs conversion costs uniformly throughout the process.  For the month of January, there were no units in the beginning work in process inventory; 10,000 units were started into production in January; and there were 4,000 units that were 40% complete in the ending work in process inventory at the end of January.  The weighted average method is used.

     

3.   What were the equivalent units of production for materials for the month of January?

 

  1.  7,600 equivalent units
  2. 14,000 equivalent units
  3. 10,000 equivalent units
  4. 4,000 equivalent units

 

4.  What were the equivalent units of production for conversion costs for the month of January?

 

a. 7,600 equivalent units

 

b. 14,000 equivalent units

 

c.10,000 equivalent units

 

d. 11,600 equivalent units

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