Question
*** ANSWER QUESTIONS USING FORMAT PROVIDED *** Required information [The following information applies to the questions displayed below.] The following information pertains to Trenton Glass
*** ANSWER QUESTIONS USING FORMAT PROVIDED ***
Required information
[The following information applies to the questions displayed below.] The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 435,000
| Actual manufacturing overhead: | |||
| Depreciation | $ | 233,000 | |
| Property taxes | 23,000 | ||
| Indirect labor | 83,000 | ||
| Supervisory salaries | 200,000 | ||
| Utilities | 58,000 | ||
| Insurance | 31,000 | ||
| Rental of space | 303,000 | ||
| Indirect material (see data below) | 79,000 | ||
| Indirect material: | |||
| Beginning inventory, January 1 | 48,000 | ||
| Purchases during the year | 95,000 | ||
| Ending inventory, December 31 | 64,000 | ||
Required: 1. Compute the firms predetermined overhead rate, which is based on direct-labor hours. (Round your answer to 2 decimal places.)
2. 
Journal entry worksheet 1 > Record entry to close out the Manufacturing Overhead account into Cost of Goods Sold. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal
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