114. Gullett Corporation had $26,000 of raw materials on hand on November 1. During the month, the company purchased an additional $75,000 of raw materials. The journal entry to record the purchase of raw materials would include a A. debit to Raw Materials of $101.000 B. credit to Raw Materials of $75,000 C. debit to Raw Materials of $75,000 D. credit to Raw Materials of $101.000 115. In October, Raddatz Inc. incurred $73,000 of direct labor costs and S6,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a: A. debit to Manufacturing Overhead of $6,000 B. debit to Work in Process of $79,000 C. credit to Manufacturing Overhead of S6,000 D. credit to Work in Process of $79,000 116. Piekos Corporation incurred $90,000 of actual Manufacturing Overhead costs during June. During the same period, the Manufacturing Overhead applied to Work in Process was $92,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a: A. debit to Manufacturing Overhead of $92,000 B. debit to Work in Process of $90,000 C. credit to Manufacturing Overhead of $92,000 D. credit to Work in Process of $90,000 117. During June, Buttrey Corporation incurred $67,000 of direct labor costs and $7,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a: A. debit to Work in Process of $67,000 B. credit to Work in Process of $74,000 C. debit to Work in Process of $74,000 D. credit to Work in Process of $67,000 118. Serritella Manufacturing Corporation uses a job-order costing system. At the beginning of the year. Serritella had $38,000 in its Work in Process inventory account. The following information relates to Serritella's operations for the year: Direet materials cost assigned to production... Direct labor cost assigned to production......... Selling, general, and administrative expenses incurred.. Manufacturing overhead cost incurred ... Underapplied manufacturing overhead cost Cost of goods manufactured Cost of goods sold... $114,000 $78,000 $25.000 $206,000 $11,000 5502,000 5509,000 What is the balance in Serritella's Work in Process inventory account at the end of the year? (Assume that the Manufacturing Overhead account has not yet been closed out.) A. $13,000 B. $24,000 C. $35,000 D. $60,000 102. Avery Co. uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. For the month of October, Avery's estimated manufacturing overhead cost was $300,000 based on an estimated activity level of 100,000 direct labor-hours. Actual overhead amounted to $325,000 with actual direct labor-hours totaling 110,000 for the month. How much was the overapplied or underapplied overhead? A. $25,000 overapplied B. $25,000 underapplied C. $5,000 overapplied D. $5,000 underapplied 103. Woodman Company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Estimated and actual data for direct labor and manufacturing overhead for last year are as follows: Estimated Actual Direct labor-hours.......... 600,000 550,000 Manufacturing overhead.............. $720,000 $680,000 The manufacturing overhead for Woodman Company for last year was: A. overapplied by $20,000 B. overapplied by S40,000 C. underapplied by $20,000 D. underapplied by $40,000 104. Collins Company uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. The following information applies to the company for the current yey 24.000 19.500 Direct labor-hours: Estimated for the year... .. Actual hours worked........... Direct labor cost: Estimated for the year Actual cost incurred Mansturing overhead: Estimated for the year .... Actual cost incurred $100,000 $210,000 $240,000 S185.000 The manufacturing overhead cost for the current year will be: A. S17,000 overapplied B. $17,000 underapplied C. $55,000 overapplied D. $55,000 underapplied. 105. Linh Corporation applies manufacturing overhead to jobs on the basis of pounds of direct material used. Linh estimated 160,000 pounds of material usage and $200,000 of manufacturing overhead cost for ne year. During the year, Linh actually used 150.000 pounds of material and incurred 5171.000 manufacturing overhead cost. What was Linhs underapplied or overapplied overhead for the Year A. $12,500 underapplied B. $16,500 overapplied C. $17,600 underapplied D. $29,000 overapplied
