Fill in the blank with the correct choice of ferromagnetic, paramagnetic, or diamagnetic, or state the sentence is not true for any of these terms.

$(d)$ All materials are____________.

Suppose a bakery reports this information:

$$\begin{array}{lr} \hline \text {Beginning materials inventory } & \$ 8,000 \\ \text {Ending materials inventory} & 7,000 \\ \text {Beginning work in process inventory} & 4,000\\ \text {Ending work in process inventory} & 3,000 \\ \text {Beginning finished goods inventory} & 3,000 \\ \text {Beginning finished goods inventory} & 5,000 \\ \text {Direct labor} & 30,000 \\ \text {Purchases of direct materials} & 95,000 \\ \text {Manufacturing overhead} & 21,000\\ \hline \end{array}$$

What is the cost of goods manufactured? a. $146,000 b.$148,000 c. $144,000 d.$147,000

Utilizing the equipment and materials available in a typical kitchen, design an experiment to reproduce results similar to those shown. Comment on your observations.

Suppose a bakery reports the following information:

$$\begin{array}{lr} \hline \text { Beginning Raw Materials Inventory } & \$ 3,000 \\ \text { Ending Raw Materials Inventory } & 5,000 \\ \text { Beginning Work-in-Process Inventory } & 3,000 \\ \text { Ending Work-in-Process Inventory } & 2,000 \\ \text { Beginning Finished Goods Inventory } & 4,000 \\ \text { Ending Finished Goods Inventory } & 6,000 \\ \text { Direct Labor } & 29,000 \\ \text { Purchases of Raw Materials } & 102,000 \\ \text { Manufacturing Overhead } & 20,000 \\ \hline \end{array}$$

What is the cost of goods manufactured? a. $151,000 c.$150,000 b. $153,000 d.$177,000

Ripley Corporation has supplied the following information obtained from its standard cost system in June:

Standard price of direct materials = $\$6$ per pound

Actual price of direct materials = $\$5$ per pound

Standard direct labor rate = $\$9$ per hour

Actual direct labor hours in June = 9,500 hours

The following journal entries were made during June with respect to Ripley’s standard cost system:

Work in Process Inventory (at standard cost) = 48,000

Materials Quantity Variance = 1,200

Direct Materials Inventory (at actual cost) = 41,000

Materials Price Variance = 8,200

To record the cost of direct materials used in June

Work in Process Inventory (at standard cost) = 81,000

Labor Rate Variance = 950

Labor Efficiency Variance = 4,500

Direct Labor (at actual cost) = 86,450

To record the cost of direct labor charged to production in June.

Work in Process Inventory (at standard cost) = 25,000

Overhead Spending Variance = 2,000

Overhead Volume Variance = 5,000

Manufacturing Overhead (at actual cost) = 22,000

To apply overhead to production in June.

Instructions

h. Was Ripley’s production output in June more or less than its normal level of output? How can you tell?

A company bought 45,000 pounds of plastic pellets to make DVDs at a cost of $9,900. The standard cost per pound for the pellets is 20.5 cents. Some of these pellets were used in three jobs. The first job called for 7,500 pounds but used 7,250 pounds. The second job called for 8,800 pounds but used 9,000 pounds. The third job called for 2,300 pounds but used 2,250 pounds. Compute the direct materials price variance and the direct materials quantity variance for each job and in total. Why would you want to calculate the direct materials quantity variance for each job?

The following data comes from the accounting records for Santa Inez, Inc., for July:

Required
Compute for the total conversion costs for month of July.

The Blending Department of Luongo Company has the following cost and production data for the month of April.

Units transferred out totaled 17,000. Ending work in process was 1,000 units that are 100% complete as to materials and 40% complete as to conversion costs.

Instructions (b) Compute the unit costs for the month.

Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials, direct labor, or manufacturing overhead. (f) ______ Tires.

Harson Co. manufactures a single product in two departments: Forming and Assembly. During May, the Forming department completed a number of units of a product and transferred them to Assembly. Of these transferred units, 62,500 were in process in the Forming department at the beginning of May and 175,000 were started and completed in May. May’s Forming department beginning inventory units were 40% complete with respect to materials and 80% complete with respect to conversion. At the end of May, 76,250 additional units were in process in the Forming department and were 80% complete with respect to materials and 20% complete with respect to conversion. The Forming department had $683,750 of direct materials and$446,050 of conversion cost charged to it during May. Its beginning inventory included $99,075 of direct materials cost and$53,493 of conversion cost.

1. Compute the number of units transferred to Assembly.

2. Compute the number of equivalent units with respect to both materials used and conversion used in the Forming department for May using the FIFO method.

3. Compute the direct materials cost and the conversion cost per equivalent unit for the Forming department.

4. Using the FIFO method, assign the Forming department’s May costs to the units transferred out and assign costs to its ending work in process inventory.

Classifying Classify the following materials as conductors or insulators: wood, paper clip, glass, air, paper, plastic, steel nail, and rubber.

What is a radiant barrier? What kind of materials are suitable for use as radiant barriers? Is it worthwhile to use radiant barriers in the attics of homes?

Consult your reference library and list three materials that have a negative temperature coefficient and three that have a positive temperature coefficient.

Fuqua Company’s sales budget projects unit sales of part 198Z of 10,000 units in January, 12,000 units in February, and 13,000 units in March. Each unit of part 198Z requires 4 pounds of materials, which cost $2 per pound. Fuqua Company desires its ending raw materials inventory to equal 40% of the next month’s production requirements, and its ending finished goods inventory to equal 20% of the next month’s expected unit sales. These goals were met at December 31, 2016.

Instructions (b) Prepare a direct materials budget for January 2017.