69-65

59 Anmanda and Barnie are partners. Amanda has $50,000 in her capital account and Barnie has $75,000 at the beginning of the year. Amanda receives a salary of $15,000 and Barnie receives a salary 512.000. mander is split 45% to Amanda and 55% to Barnic. Net income for the year was $125,000. What is the amount of each capital account at year-end? Each partner receives 5% of the beginning balance of their capital accounts. The A) Amanda's capital balance = $108,788; Barrie's capital balance-S14 1,212 B) Amanda's capital balance-$91,288: Barmie's capital balance $125462 C Amanda's capital balance- $67,500; Banie's capital balance $88,750 D) Cannot be determined from the information given. 60) An S corporation must have a maximum of stockholders. C) 70 A) 75 B) 25 D) 65 61) Overhead application rates allow overhead to be assigned as units are being produced throughout A) Thr period. B) False accounting od (z) Under a job order cost system, costs are accumulated for: A) Each batch 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) Alon 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. 4) 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 des Company's beginning Work in Process Inventory was S20,000 and its ending Work in Process leventory amounted to $30,000. What is the company's cost of finished goods manufactured for the year? A) 5670,500 B) S430,500. C) $700,500. D) $690,500. A-10