Reference no: EM132570573

Questions -

Q1. Baltimore Manufacturing Company just completed its year ended December 31, 2019. Depreciation for the year amounted to $100,000: 30% relates to sales, 20% relates to administrative facilities, and the remainder relates to the factory. Of the total units produced during FY 2019: 90% were sold in 2019 and the rest remained in finished good inventory. Use this information to determine the dollar amount of the total depreciation that will be contained in Cost of Goods Sold.  (Round dollar values & enter as whole dollars only.)

Q2. Baltimore Manufacturing had a Work in Process balance of $109,000 on January 1, 2018. The year end balance of Work in Process was $51,000 and the Cost of Goods Manufactured was $760,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018. (Round dollar values & enter as whole dollars only.)

Q3. During FY 2018 Bay Manufacturing had total manufacturing costs are $440,000. Their cost of goods manufactured for the year was $443,000. The January 1, 2019 balance of Work-in-Process Inventory is $46,000. Use this information to determine the dollar amount of the FY 2018 beginning Work-in-Process Inventory. (Round dollar values & enter as whole dollars only.)

Q4. Frederick Company's January 1, 2018 finished goods inventory was $88,000. The January 1, 2019 finished goods inventory is $66,000.  Cost of goods manufactured for the FY 2018 was $239,000. Use this information to determine the dollar amount of the FY 2018 cost of goods sold. (Round dollar values & enter as whole dollars only.)

Q5. During March 2019, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead. Virginia Bay's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $300,000 would be incurred, and 9,400 direct labor hours would be worked.  During March, 11,000 hours were actually worked. Use this information to determine the standard overhead rate. (round & enter any final dollar answers to the nearest cent):

Q6. During March 2019, Alaska Corporation recorded $251,000 of costs related to factory overhead. Alaska's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $250,000 would be incurred, and 12,500 direct labor hours would be worked.  During March, 12,100 hours were actually worked. Use this information to determine the amount of overhead over or under applied.  Enter overapplied overhead as a negative number. (round & enter any final dollar answers to the nearest whole dollar)

Q7. March 1, 201, Dorchester Company's beginning work in process inventory had 5,000 units. This is its only production department. Beginning WIP units were 50% make to conversion costs. Dorchester introduces direct materials at the beginning of the production process.  During March, all beginning WIP was completed and an additional 15,500 units were started and completed. Dorchester also started but did not complete 6,500 units. These units remained in ending WIP inventory and were 70% complete to conversion costs. Dorchester uses the weighted average method. Use this information to determine for March 2019 the equivalent units of production for conversion costs. (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)