Question

1: All the following costs should be considered direct costs of providing delivery room services: the...

1: All the following costs should be considered direct costs of providing delivery room services: the costs of drugs administered in the operating room, the attending physician's fees, and a portion of the liability insurance carried by the hospital to cover the delivery room.

Group startsTrue or False

True, unselectedFalse, unselected

2:

Meyers Company had the following inventory balances at the beginning and end of November:

November 1 November 30
Raw Materials $17,000 $20,000
Finished Goods $50,000 $44,000
Work in Process $9,000 $11,000



During November, $39,000 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $8 per direct labour-hour, and it paid its direct labour workers $10 per hour. A total of 300 hours of direct labour time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $4,700 of direct materials cost. The Company incurred $28,000 of actual manufacturing overhead cost during the month and applied $26,400 in manufacturing overhead cost.

The raw materials purchased during November totaled:

Multiple Choice

  • $36,000.

  • $42,000.

  • $39,000.

  • $45,000.

3 .

Mayberry Company reported the following data for the year just ended:

Raw materials used in production $800,000
Direct labour $700,000
Total overhead costs $900,000
Beginning work in process inventory $500,000
Cost of goods manufactured $2,500,000



The ending work in process inventory was:

Multiple Choice

  • $1,300,000.

  • $100,000.

  • $400,000.

  • $300,000.

Homework Answers

Answer #1
1
FALSE
The cost of liability insurance carried by the hospital to cover the delivery room is not a direct cost.
Raw materials used in production 39000
Add: Raw Materials, November 30 20000
Less: Raw Materials, November 1 -17000
Raw materials purchased during November 42000
$42,000 is correct option
3
Beginning work in process inventory 500000
Raw materials used in production 800000
Direct labour 700000
Total overhead costs 900000
Total costs of work in process 2900000
Less: Cost of goods manufactured 2500000
Ending work in process inventory 400000
$400,000 is correct option
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