5. Marshall Enterprises charged the following amounts of overhead to jobs during the year: $20,000 to jobs proces, 560,000 to jobs completed but not sold, and $120.000 to jobs finished and sold. At year-end, Marshall Enterprises Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should Marshall make at year-end? a). No entry is needed. b). Debit Factory Overhead $5,000, credit Cost of Goods Sold $5,000 c). Debit Cost of Goods Sold $5,000; credit Factory Overhead $5,000 d). Debit Factory Overhead $5,000, credit Work in Process Inventory $5,000 e). Debit Factory Overhead $5,000, credit Finished Goods Inventory $5,000 6). Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198.000 of raw materials on credit; issued materials to production of $195.000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. If Minstrel incurred total overhead costs of $167,800 during the month, compute the amount of under-or overapplied overhead: a). $2,800 overapplied. b). $17,800 underapplied. c). $2,800 underapplied. d). $17,800 overapplied. e). $57,200 overapplied. 7). At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in inventory. 30% complete as to materials, and 10% complete as to conversion. During the month the department started 60,000 units and transferred 62,000 units to the next manufacturing department. At the end of the month, the department had 8,000 units in inventory, 80% complete as to materials and 60% complete as to conversion. If Martin Manufacturing uses the FIFO method of process costing, compute the equivalent units for materials and conversion respectively for the Forming Department. a). 68.400 materials; 66,800 conversion b). 58,400 materials; 56,800 conversion c): 59,000 materials; 61,000 conversion d): 65,400 materials; 66,800 conversion e). 65,400 materials: 65,800 conversion 8). Following is a partial process cost summary for Mitchell Manufacturing's Canning Department Direct Materials 50,000 Conversion 50,000 Equivalent Units of Production Units Completed and transferred out Units in Ending Work in Process: Direct Materials (15,000 * 100%) Conversion (15,000 BOX) Equivalent Units of Production 15,000 12,000 62,000 65,000 Cost per Equivalent Unit Costs of beginning work in process Costs incurred this period Total costs Cost persuadent $ 40,500 136,000 5176,500 $ 2.71 per EUP $ 59,700 183.100 $242,800 $ 3.92 per EUP