Hardigree Corporation uses a job-order costing system. Beginning balance in Work in Process$36,000(1)Raw materials purchased on account$207,000(2)Direct materials requisitioned for use in production$161,000(3)Indirect materials requisitioned for use in production$42,000(4)Direct labor wages incurred$87,000(5)Indirect labor wages incurred$101,000(6)Depreciation recorded on factory equipment$42,000(7)Additional manufacturing overhead costs incurred$57,000(8)Manufacturing overhead costs applied to jobs$219,000(9)Cost of jobs completed and transferred from Work inProcess to Finished Goods$403,000 The manufacturing overhead was:
A. $23,000 Overapplied
B. $19,000 Overapplied
C. $19,000 Underapplied
D. $23,000 Underapplied
Answer: D
You might also like to view...
______ refers to the buying and selling goods and services via a telecommunications network.
A. Encapsulation B. Business intelligence C. Enterprise application D. E-commerce
If average accounts receivable is $35,000 and net sales total $100,000, what is the receivables turnover?
A) 0.3 times B) 0.4 times C) 2.9 times D) 126 times
________ divides each account balance by a base account, yielding a percentage
a. Horizontal analysis b. Vertical analysis c. Average age of fixed assets ratio d. Fixed assets turnover ratio
Depreciation on equipment for the year is $6,300. (a) Record the journal entry if the company prepares adjustments once a year. (b) Record the journal entry if the company prepares adjustments on a monthly basis