Question

Cost of materials purchases on account $72,800 Cost of materials requisitioned (includes $2,700 of indirect) $53,100 Direct labor costs incurred $80,000 Manufacturing overhead costs incurred, including indirect materials $88,000 Cost of goods completed $257,750 Cost of goods sold $167,600 Beginning raw materials inventory $17,000 Beginning work in process inventory $33,200 Beginning finished goods inventory $35,600 Predetermined manufacturing overhead rate (as % of direct labor cost) 130% The journal entry to record the cost of raw materials placed into production involves a A. credit to Manufacturing Overhead account for $2,700. B. debit to Work - in - Process Inventory account for $53,100. C. debit to Work - in - Process Inventory account for $50,400. D. debit to Overhead account for $50,400.

          Cost of materials purchases on account
$72,800
Cost of materials requisitioned (includes $2,700 of indirect)
$53,100
Direct labor costs incurred
$80,000
Manufacturing overhead costs incurred, including indirect materials
$88,000
Cost of goods completed
$257,750
Cost of goods sold
$167,600
Beginning raw materials inventory
$17,000
Beginning work in process inventory
$33,200
Beginning finished goods inventory
$35,600
Predetermined manufacturing overhead rate (as % of direct labor cost)
130%
The journal entry to record the cost of raw materials placed into production involves a
A. credit to Manufacturing Overhead account for $2,700.
B. debit to Work - in - Process Inventory account for $53,100.
C. debit to Work - in - Process Inventory account for $50,400.
D. debit to Overhead account for $50,400.

Cost of materials purchases on account
72,800
Cost of materials requisitioned (includes2,700 of indirect)
53,100
Direct labor costs incurred80,000
Manufacturing overhead costs incurred, including indirect materials
88,000
Cost of goods completed257,750
Cost of goods sold
167,600
Beginning raw materials inventory17,000
Beginning work in process inventory
33,200
Beginning finished goods inventory35,600
Predetermined manufacturing overhead rate (as % of direct labor cost)
130%
The journal entry to record the cost of raw materials placed into production involves a
A. credit to Manufacturing Overhead account for 2,700.
B. debit to Work - in - Process Inventory account for53,100.
C. debit to Work - in - Process Inventory account for 50,400.
D. debit to Overhead account for50,400.

Added by Kerry T.

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