75. A materials requisition slip showed that direct materials requested were $58,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is A) Work In Process Inventory 58,000 Raw Materials Inventory 58,000 B) Direct Materials 58,000 Indirect Materials 9,000 Work in Process Inventory 67,000 C) Manufacturing Overhead 67,000 Raw Materials Inventory 67,000 D) Work In Process Inventory 58,000 Manufacturing Overhead 9,000 Raw Materials Inventory 67,000 76. Gannon Company had the following information at December 31:Finished goods inventory, January 1 $ 30,000 Finished goods inventory, December 31 90,000 If the cost of goods manufactured during the year amounted to $1,260,000 and annual sales were $1,650,000, the amount of gross profit for the year is A) $390,000. B) $1,200,000. C) $450,000. D) $330,000. 77. Norman Company manufactures customized desks. The following pertains to Job No. 953:Direct materials used $16,800 Direct labor hours worked 600 Direct labor rate per hour $16.00 Machine hours used 400 Applied factory overhead rate per machine hour $30.00 What is the total manufacturing cost for Job No. 953? A) $35,200 B) $38,400 C) $41,200 D) $44,400 78. The following department data are available:Total materials costs $180,000 Equivalent units of materials 60,000 Total conversion costs $105,000 Equivalent units of conversion costs 30,000 What is the total manufacturing cost per unit? A) $3.00. B) $3.50. C) $6.50. D) $3.17. 79. Madison Industries has equivalent units of 2,000 for materials and for conversion costs. Total manufacturing costs are $160,000. Total materials costs are $120,000. How much is the conversion cost per unit? A) $8.00. B) $20.00. C) $80.00. D) $16.00.