quiz 2--answer 会计测验2.docxVIP

Problem 11.a.Raw Materials150,000Cash150,000b.Work in Process135,000Manufacturing Overhead23,000Raw Materials158,000c.Work in Process100,000Manufacturing Overhead40,000Sales Commissions Expense22,000Salaries Expense35,000Cash197,000d.Manufacturing Overhead30,000Rent Expense6,000Cash36,000e.Manufacturing Overhead90,000Cash90,000f.Advertising Expense88,000Cash88,000g.Manufacturing Overhead66,000Depreciation Expense14,000Accumulated Depreciation80,000h.Work in Process250,000Manufacturing Overhead250,000Rmb100,000 actual direct labor cost × 250% = Rmb250,000.i.Finished Goods490,000Work in Process490,000j.Cash995,000Sales995,000Cost of Goods Sold550,000Finished Goods550,0002.Raw MaterialsWork in ProcessBal.13,000(b)158,000Bal.30,000(i)490,000(a)150,000(b)135,000Bal.5,000(c)100,000(h)250,000Bal.25,000Finished GoodsManufacturing OverheadBal.65,000(j)550,000(b)23,000(h)250,000(i)490,000(c)40,000Bal.5,000(d)30,000(e)90,000(g)66,000Bal.1,000Cost of Goods Sold(j)550,0003.Manufacturing overhead is overapplied by Rmb1,000 for the year. The entry to close this balance to Cost of Goods Sold would be:Manufacturing Overhead1,000Cost of Goods Sold1,0004.Gold Nest CompanyIncome StatementSalesRmb995,000Less cost of goods sold (Rmb550,000 – Rmb1,000)?549,000Gross margin446,000Less selling and administrative expenses:Sales commissionsRmb22,000Administrative salaries35,000Rent expense6,000Advertising expense88,000Depreciation expense?14,000?165,000Net operating incomeRmb281,000Problem 21.2.The amount of overhead cost applied to Work in Process for the year would be: 45,000 machine-hours × $8.00 per machine-hour = $360,000. This amount is shown in entry (a) below:Manufacturing Overhead(Maintenance)47,000(a)360,000(Indirect materials)20,000(Indirect labor)105,000(Utilities)77,500(Insurance)26,000(Depreciation)91,500Balance7,000Work in Process(Direct materials)980,000(Direct labor)170,000(Overhead) (a)360,0003.Overhead is underapplied by $7,000 for the year, as shown in the Manufacturing Ove