Question
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River Rock Beverage Co. estimated that total factory
Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance
The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $507,100, and total direct labor costs would be $461,000. During February, the actual direct labor cost totaled $40,000, and factory overhead cost incurred totaled $45,750.
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a. What is the predetermined factory overhead rate based on direct labor cost? Enter your answer as a whole percent not in decimals. fill in the blank
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b. Journalize the entry to apply factory overhead to production for February.
blank | Accounts PayableCashFactory Overhead-Blending DepartmentWages PayableWork in Process-Blending Department | - Select - | - Select - |
Accounts PayableCashFactory Overhead-Blending DepartmentFinished GoodsWork in Process-Blending Department | - Select - | - Select - |
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c. What is the February 28 balance of the account Factory OverheadBlending Department?
Amount: | $fill in the blank c84b26fcf017fbc_1 |
Debit or Credit? | CreditDebit |
d. Does the balance in part (c) represent overapplied or underapplied factory overhead?
Overapplied factory overhead/Underapplied factory overhead
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