Author Question: Franklin Inc. manufactures pipes and applies manufacturing overhead costs to production at a ... (Read 51 times)

leo leo · **on:** Mar 6, 2021

Question 1

For externally reported inventory costs, the Work-in-Process Control account is increased (debited) by ________.
◦ marketing costs
◦ allocated plant utility costs
◦ the purchase costs of direct and indirect materials
◦ customer-service costs

Question 2

Franklin Inc. manufactures pipes and applies manufacturing overhead costs to production at a budgeted indirect-cost rate of $15 per direct labor-hour. The following data are obtained from the accounting records for June 2018:

Direct materials

$100,000

Direct labor (4,000 hours @ $10/hour)

40,000

Indirect labor

10,000

Plant facility rent

26,000

Depreciation on plant machinery and equipment

24,500

Sales commissions

23,000

Administrative expenses

31,000

The amount of manufacturing overhead allocated to all jobs during June 2018 totals ________.
◦ $91,500
◦ $60,000
◦ $76,000
◦ $60,500

Expo · **Reply #1 on:** Mar 6, 2021

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