Harrison Ford Company uses a job-order cost system and had the following data available for 1998. The journal entry to record the materials placed into production would include a credit to Direct-Materials Inventory for $41,000. debit to Direct-Materials Inventory for $74,000. credit to WIP inventory for $41,000. debit to WIP Inventory for $74,000. The ending inventory of direct materials is $46,000. $87,000. $41,000. $54,000. The ending inventory of work Process is $219,250. $73,250. $65,000. $211,000. The ending inventory of finished goods is $29,000. $18,000. $47,000. $146,000. What is the appropriate journal entry if $100,000 of materials was purchased on account for the month of August? Jim's Computer Products manufactures keyboards for computers. In June, the two production departments had budgeted allocation bases of 10,000 machine hours in Department 1 and 5,000 direct manufacturing labor hours in Department 2. The budgeted manufacturing overheads for the month were $34,500 and $37,500, respectively. For Job 501, the actual costs incurred in the two departments were as follows: Job 501 incurred 1,000 machine hours in Department 1 and 300 manufacturing labor hours in Department 2. The company uses a budgeted departmental overhead rate for applying overhead to production. What is the budgeted manufacturing overhead rate for Department 2? $3.45 $3.75. $4.60 $7.50 What is the total cost of Job 501? $27,600 $91,200 $96,900 $123,900 What is the budgeted manufacturing overhead rate for Department 1? $3.45 per hour $3.75 per hour $6.90 per hour $7.50 per hour