Manufacturing overhead was estimated to be $374,400 for the year along with 20,8

Question

Manufacturing overhead was estimated to be $374,400 for the year along with 20,800 direct labor hours. Actual manufacturing overhead was $402,000, and actual labor hours were 23,000. Which of the following would be correct?

a. Overhead is underapplied by $12,000

b. Overhead is overapplied by $27,600

c. Overhead is overapplied by $12,000

d. Overhead is underapplied by $27,600

Manufacturing overhead was estimated to be $372,600 for the year along with 20,700 direct labor hours. Actual manufacturing overhead was $405,000, and actual labor hours were 23,800. To dispose of the balance in the Manufacturing Overhead account, which of the following would be correct?

a. Cost of Goods Sold would be debited for $23,400

b. Cost of Goods Sold would be credited for $23,400

c. Cost of Goods Sold would be debited for $32,400

d. Cost of Goods Sold would be credited for $32,400

What was the ending Work in Process Inventory balance on 12/31?

a. $42,700

b. $8,000

c. $45,900

d. $56,700

Manufacturing overhead was estimated to be $372,600 for the year along with 20,700 direct labor hours. Actual manufacturing overhead was $405,000, and actual labor hours were 23,800. To dispose of the balance in the Manufacturing Overhead account, which of the following would be correct?

a. Cost of Goods Sold would be debited for $23,400

b. Cost of Goods Sold would be credited for $23,400

c. Cost of Goods Sold would be debited for $32,400

d. Cost of Goods Sold would be credited for $32,400

Santos Inc had the following information for the preceding year:    Beginning
Inventory
(1/1) Ending
Inventory
(12/31)   Raw Materials Inventory $45,600 $32,500   Work in Process Inventory $37,900 $??   Finished Goods Inventory $33,200 $?? Additional information for the year is as follows:   Direct materials used $209,300   Direct labor $158,500   Manufacturing overhead applied $162,200   Cost of goods manufactured $525,200   Cost of goods sold $544,000

What was the ending Work in Process Inventory balance on 12/31?

a. $42,700

b. $8,000

c. $45,900

d. $56,700

Explanation / Answer

c. Overhead is overapplied by $12,000

c. Cost of Goods Sold would be debited for $32,400

b. $8,000

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.