Question

The following account balances at the beginning of January were selected from the general ledger of Frozen Juice Manufacturing Company: Work in process inventory $0 Raw materials inventory $28,900 Finished goods inventory $40,000 Additional data: 1. Actual manufacturing overhead for January amounted to $63,400. 2. Total direct labor cost for January was $63,500. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,300 of direct labor cost and $350,800 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5900 (1700 direct labor hours) and total direct material charges were $14,400. 5. Cost of direct materials placed in production during January totaled $123,800. There were no indirect material requisitions during January. 6. January 31 balance in raw materials inventory was $35,500. 7. Finished goods inventory balance on January 31 was $35,300. What is the predetermined manufacturing overhead rate? 72% 140% 99% 71%

          The following account balances at the beginning of January were selected from the general ledger of Frozen Juice Manufacturing Company:

Work in process inventory $0
Raw materials inventory $28,900
Finished goods inventory $40,000

Additional data:
1. Actual manufacturing overhead for January amounted to $63,400.
2. Total direct labor cost for January was $63,500.
3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,300 of direct labor cost and $350,800 of manufacturing overhead costs.
4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5900 (1700 direct labor hours) and total direct material charges were $14,400.
5. Cost of direct materials placed in production during January totaled $123,800. There were no indirect material requisitions during January.
6. January 31 balance in raw materials inventory was $35,500.
7. Finished goods inventory balance on January 31 was $35,300.

What is the predetermined manufacturing overhead rate?
72%
140%
99%
71%

The following account balances at the beginning of January were selected from the general ledger of Frozen Juice Manufacturing Company:

Work in process inventory 0
Raw materials inventory28,900
Finished goods inventory 40,000

Additional data:
1. Actual manufacturing overhead for January amounted to63,400.
2. Total direct labor cost for January was 63,500.
3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for250,300 of direct labor cost and 350,800 of manufacturing overhead costs.
4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were5900 (1700 direct labor hours) and total direct material charges were 14,400.
5. Cost of direct materials placed in production during January totaled123,800. There were no indirect material requisitions during January.
6. January 31 balance in raw materials inventory was 35,500.
7. Finished goods inventory balance on January 31 was35,300.

What is the predetermined manufacturing overhead rate?
72%
140%
99%
71%

Added by Tiffany B.

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