Reference no: EM13573142
1.At the beginning of August, Hogancamp Corporation had $34,500 of raw materials on hand. During the month, the company purchased an additional $81,900 of raw materials. During August, $79,700 of raw materials were requisitioned from the storeroom for use in production. The credits to the Raw Materials account for the month of August total:
- $34,500
- $79,700
- $81,900
- $116,400
2.Bakker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $104,720 and 3,400 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $106,520 and actual direct labor-hours were 3,200.
The predetermined overhead rate for the year was: (Round your answer to 2 decimal places.)
- $32.82
- $29.56
- $30.80
- $31.50
3.During September, Stutzman Corporation incurred $94,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $88,000.
The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
- credit to Manufacturing Overhead of $88,000
- debit to Work in Process of $94,000
- debit to Manufacturing Overhead of $88,000
- credit to Work in Process of $94,000