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For number 20 the answer is D but I dont know how to do it. Can you please show me the steps? Questions 19-20 are
For number 20 the answer is D but I dont know how to do it. Can you please show me the steps? Questions 19-20 are based on the following information: Dillon Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor costs). Any under or over-applied overhead cost is closed out to Cost of Goods Sold at the end of the month. During May, the following transactions were recorded by the company: Raw materials (all direct materials): Purchased during the month Used in production $38,000 $35,000 Labor Direct labor hours worked during the month.... 3,150 Manufacturing overhead cost incurred (total)..$24,500 Inventories Raw materials (all direct), May 1 Raw materials (all direct, May 31... $8,000 Work in process, May .. Work in process, May 3 1.. $9,000 19.The entry to dispose of the undepor over-applied overhead cost for the month would include A) a debit of $2,000 to the Manufacturing Overhead account Morl-75(30,0OD Mo1 22,50o uder ) a credit of $2,500 to the Manufacturing Overhead account ) a debit of $2,000 to Cost of Goods Sold a credit of $2,500 to Cost of Goods Sold 2 /00 20.Under normal costing, total Cost of Goods Manufactured for May was B) $95,000 ) $75,500 D) $87,500 21. If all other factors remain the same, a $2.00 increase in a product's variable cost per
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