As of December 31, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of the year, there was $2,000 of materials on hand. During the year, the company purchased $375,000 of materials; however, it paid for only $312,500. How much inventory was requisitioned for use on jobs during the year?

Tonneau Corporation had the following information available for October: ​ Work in Process, October 1 $20,000 Materials placed into production, October 27,500 Direct labor, October 37,500 ​ Factory overhead rate is 150 percent of direct labor costs. ​ Job cost sheets had the following balances: ​ Job Z1 $32,500 Job Z2 55,000 Job Z3 35,000 Job Z4 18,750 ​ Jobs Z3 and Z4 were not completed at the end of October. What is the balance in Work-in-Process for Tonneau at the end of October?

Wood Company has beginning work in process inventory of $138,000 and total manufacturing costs of $477,000. If cost of goods manufactured is $480,000, what is the cost of the ending work in process inventory?

Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period:

Dolan Company’s accounting records reflect the following inventories: During 2017, $800,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000. If Dolan Company’s cost of goods manufactured for 2017 amounted to $1,890,000, its cost of goods sold for the year is

The following information was available about supplies cost for the second quarter of the year:  Month Production Volume Supplies Cost July   700 $3,185  August 1,600 7,100 September   600 2,700 ​ Using the high-low method, the estimate of supplies cost at 1,000 units of production is

Which one of the following is not considered as material costs?

The _____ system is an integrated system capable of providing access to real-time data from the various functional areas of a company. 

The following information is available for electricity costs for the last six months of the year: ​ Month Production Volume Electricity Costs January 1,400 $2,200 February 2,800 5,400 March 3,200 5,700 April 1,750 3,900 May 1,200 2,400 June 2,100 4,050 ​ Using the high low method, what are the estimated fixed costs?

Which of the following would NOT be included in the conversion cost of an automobile?