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59) Amanda and Barmie are partners. Amanda has $50,000 in her capital account and Barnie has year. Amanda receives a salary of $15.000 and Barnie receives $75,000 the beginning ofthe s12100 Each partner receives 5% of the beginning balance of their capital accounts. The remander is split 45% to Amanda and 55% to Barnie. Net income for the year was S 125,000. What is the amount of each capital account at y ear-end? A) Amand's capital balance = $108,788; Barnie's capital balance-S 1 4 1,212 B) Amanda's capital balance-$91,288: Barmie's capital balance $125,462 Q) Amanda's capital balance $67,500: Barnie's capital balance $88,750 D) Cannot be determined from the information given. 69) Aa S corporation must have a maximum of A) 75 B)25 stockholders C) 70 D) 65 60) Overhead application rates allow overhead to be assigned as units are being produced throughout accounting penod A) True B) False 2) Under a job order cost system, costs are accumulated for: A) Each hatch of production, known as a job or lot. B) Each individual unit produced. C) Each job supervisor. D) Each department in the production cycle. 63) Alton Company produces metal belts. During the current month, the company incurred the following product costs Raw materials $100,000 Direct labor $75,000 Electricity used in the Factory $25.000 Factory foreperson salary $3,750 Maintenance of factory machinery $2,000 Alton Company's total product costs: A) $28,750 B) $205,750 C) $175,000. D) $30,750 66) Daring the current year, Jules Company incurred the following product costs: Direct materials used in production $250,000 Direct labor $185,000 Manufacturing overhead $245,500 ules Company' s beginning Work in Process Inventory was $20,000 and its ending Work in Process cos f e ods mafactured for t year? A) 5670,500 B) $430,500. C) $700,500. D) $690,500. A-10