10. What is the amount of overapplied or underapplied manufacturing overhead at

Question

10. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year? a. $17.000 overapplied b. $17.000 underapplied c. $9.200 overapplied d. $9.200 underapplied Questions 11 and 12 pertain to the following data set: I1. The Ogelsby Flint Glass Manufacturing Corporation presents the following general ledger accounts and amounts: The Work in Process Account reveals the following data: (a) August 1 debit balance. $275.000: (b) August 31t Direct Materials debit posting. unknown: (c) August 31 ? Direct Labor debit posting. S450.000: (d) August 31 st Factory Overhead debit posting, unknown: and (e) August 31s credit posting. S1.030.000. The Factory Overhead account reveals the following data: (a) August 31 cost incurred debit posting, $145,000: (b) August 1 credit balance. S15.000: and (c) Factory Overhead Applied credit posting (at 30% of direct labor cost. unknown. If the balance of Work in Process at August 31M is S220.000. what is the amount debited to Work in Process for direct materials in August? a. $390.000 b. $170.000 c. d. $525.000 $580.000 12. If the balance of Work in Process at August 31 is $220.000. what was the amount debited to Work in Process for factory overhead in August? a. $135.000 b. $100.000 c. $120.000 d. $70.000 13. Each account in the cost ledger is called a a. finished goods sheet b. stock record c. materials requisition d. job cost sheet

Explanation / Answer

Q11- Answer (b) is correct. Work in process account Opening balance $            275,000 Transferred $        1,030,000 Direct material (Balancing figure) $            170,000 Direct labor $            450,000 Factory overhead (30% of direct labor) $            135,000 $        1,030,000 $        1,030,000 Q12-Answer a) is correct. Factory overhead charged to WIP=30% of direct labor= $ 135,000 Q13 Answer d) is correct. Q10 is having missing data.

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