1) The formula for cost of goods manufactured is a) Raw materials plus direct labor minus overhead plus beginning work-in-process inventory plus ending work-in-process inventory. b) Raw materials minus direct labor plus over head plus beginning work-in-process inventory plus ending work-in-process inventory. c) Beginning work-in-process plus total manufacturing cost minus ending work-in-process. d) Raw materials plus direct labor less overhead plus beginning work-in-process inventory less ending work-in-process inventory. 2) Factory Supplies Expense, Depreciation Expense—Factory, and Heat, Light, and Power—Factory appear on which section of the worksheet? a) Statement of cost of goods manufactured b) Balance sheet c) Income statement d) Statement of cost of goods sold 3) Direct labor includes the wages of a) An hourly worker producing the product. b) The shop foreman. c) Maintenance workers. d) Administrators. 4) What is the journal entry to record issuing supplies from the storeroom? a) Debit Overhead—Applied; credit Raw Materials Inventory b) Debit Overhead—Control; credit Supplies Inventory c) Debit Supplies Inventory; credit Overhead—Applied d) Debit Overhead—Applied; credit Supplies Inventory 5) The statement of cost of goods manufactured includes a) Direct labor costs. b) Raw material costs. c) Manufacturing overhead. d) All of the above 6) The entry to record the requisition of supplies from the storeroom would include which of the following? a) Debit to Raw Materials; credit to Work-in-Process b) Debit to Overhead—Applied; credit to Overhead—Control c) Debit to Work-in-Process; credit to Overhead—Control d) Debit to Overhead—Control; credit to Supplies Inventory 7) Lumber used in constr uction of a building is part of a) Raw material costs. b) Labor costs. c) Manufacturing overhead. d) None of the above 8) If direct labor for the month is $80,000 and overhead is applied based on 75% of direct labor dollars, what is the entry to apply overhead? a) Debit Work-in-Process Inventory $80,000; credit Payroll $80,000 b) Debit Overhead—Applied $60,00; credit Work-in-Process Inventory $60,000 c) Debit Work-in-Process Inventory $60,000; credit Overhead—Applied $60,00 d) Debit Work-in-Process Inventory $80,000; credit Overhead—Applied $80,000 9) Raw material inventory appears on the a) Balance sheet. b) Income statement. c) Cost of goods manufactured statement. d) Both A and C 10) What is the journal entry to record issuing raw materials from the storeroom? a) Debit Raw Materials Inventory; credit Work-in-Process b) Debit Overhead—Control; credit Work-in-Process c) Debit Work-in-Process; credit Overhead—Control d) Debit Work-in-Process; credit Raw Materials Inventory 11) The entry to rent expense of $9,000, supervision expense of $19,000, and depreciation expense of $7,000 to overhead is which of the following? a) Debit Overhead—Applied $35,000; credit Rent Expense $9,000; credit Supervision.