Midtown, Inc uses a predetermined overhead allocation rate of $67 per direct labor hour
In January, the company completed Job A23 which utilized 18 direct labor hours. Which of the following correctly describes the journal entry to allocate overhead to the job?
A) debit Finished Goods Inventory $1,206 and credit Manufacturing Overhead $1,206
B) debit Manufacturing Overhead $67 and credit Work-in-Process Inventory $67
C) debit Work-in-Process Inventory $1,206 and credit Manufacturing Overhead $1,206
D) debit Cost of Goods Sold $67 and credit Finished Goods Inventory $67
C .C) Allocated manufacturing overhead cost = Predetermined overhead allocation rate x Actual quantity of the allocation base used by each job
Allocated manufacturing overhead cost = $67 per DLHr x 18 hours = $1,206
You might also like to view...
For some business needs you must use a(n) _____, a combination of two or more fields that together serve as a primary key, because it is impractical to use a single field as a primary key.
Fill in the blank(s) with the appropriate word(s).
Which of the following pay strategies is a source of competitive advantage?
A. a pay strategy that adds value and is difficult for employers to imitate B. a pay strategy that emphasizes on work/life programs over cash compensation and giving only limited bonuses and no stock awards C. a pay strategy that overemphasizes on outstanding employee performance and commitment D. a pay strategy that ignores individual attitudes and preferences E. a pay strategy that specifies low base pay and high job security
A counseling service records the number of calls to their hotline for the last year. What is the forecast for March if an adjusted exponential smoothing model is used with ?=0.8 and ?=0.7? The unadjusted forecast for January is 123.5
Month Demand January 111 February 127 March 146 April 159 May 165 June 165 July 178 August 182 September 191 October 208 November 223 December 228 A) 135.44 B) 138.53 C) 132.76 D) 144.34
In the short run at least, which of the following is usually beyond the control of the marketing manager?
A. economic environment B. political and legal environments C. cultural and social environment D. competitive environment E. All these environments are beyond the control of the marketing manager in the short run.