1. Cerrone Inc. has provided the following data for the month of July. The balance in the finished goods inventory account at the beginning of the month was $57,900 and at the end of the month was %50,000. The cost of goods manufactured for the month was $259,000. The actual manufacturing overhead cost incurred was $ 176,900 and the manufacturing over cost applied to work in process was $164,00. The adjusted cost of goods sold that would appear on the income statement for July is:

279,800

266,900

251,100

254,000

2. Meyers Corporation had the following inventory balances at the beginning and end of November:

	November 1			November 30
Raw Materials	$	8,000		$	14,000
Finished Goods	$	22,000		$	15,000
Work in Process	$	2,000		$	5,000

During November, $17,000 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $4 per direct labor-hour, and it paid its direct labor workers $7 per hour. A total of 100 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $2,000 of direct materials cost. The Corporation incurred $12,000 of actual manufacturing overhead cost during the month and applied $11,000 in manufacturing overhead cost.

The direct materials cost in the November 1 Work in Process inventory account totaled:

$700

$900

$1,300

$1,600

3. Weldin Inc. has provided the following data for the month of October. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.

	Work in Process		Finished Goods		Cost of Goods Sold		Total
Direct materials	$	7,590	$	19,800	$	35,240	$	62,630
Direct labor		8,810		24,700		44,200		77,710
Manufacturing overhead		12,000		18,600		29,400		60,000
Total	$	28,400	$	63,100	$	108,840	$	200,340

Manufacturing overhead for the month was underapplied by $3,400.

The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.

Required:

Provide the journal entry that would record the allocation of underapplied or overapplied among work in process, finished goods, and cost of goods sold. (Omit the "$" sign in your response.)

General Journ

Debit

Credit

4. Evener Inc. has provided the following data for the month of July. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.

	Work in Process		Finished Goods		Cost of Goods Sold			Total
Direct materials	$	3,900	$	11,900	$	51,600	$	67,400
Direct labor		3,400		14,300		66,400		84,100
Manufacturing overhead		5,720		8,840		37,440		52,000
Total	$	13,020	$	35,040	$	155,440	$	203,500

Manufacturing overhead for the month was overapplied by $6,400.

The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.

Required:

Determine the cost of work in process, finished goods, and cost of goods sold AFTER allocation of the underapplied or overapplied overhead for the period. (Round your intermediate calculations to nearest whole number. Omit the "$" sign in your response.)

	Cost
Work in process	$
Finished goods
Cost of goods sold
Total	$