Help Altima, Inc. finished Job A40 on the last working day of the year. It utilized $400 of direct materials and $2,540 of direct labor. Altima uses a predetermined overhea allocation rate based on direct labor costs, which has been fixed at 40%. The entry to record the completion of the job should involve a OA. debit to Finished Goods Inventory $3,956 and a credit to Materials Inventory $3,956 OB. debit to Cost of Goods Sold $3,956 and a credit to Finished Goods Inventory $3.956 OC. debit to Work-in-Process Inventory $3,956 and a credit to Finished Goods Inventory $3,956 OD. debit to Finished Goods Inventory $3,956 and a credit to Work-in-Process Inventory $3,956 Oaktree, Inc. is a merchandiser of inlaid wooden boxes. The company sold 6,000 units during the year. The company has provided the following information Sales Revenue Purchases (excluding freight in) $593,000 302,000 Selling and Administrative Expenses 69,000 Freight In 15,000 Beginning Merchandise Inventory Ending Merchandise Inventory 46,000 42,000 What is the cost of goods sold for the year? OA. $306,000 OB. $321,000 OC $363,000 OD. $313.000 Question Help The Equinox Fabrication Plant suffered a fire incident in August, and most of the records for the year were destroyed. The following accounting data for the year were recovered Total manufacturing overhead estimated at the beginning of the year Total direct labor costs estimated at the beginning of the year Total direct labor hours estimated at the beginning of the year Actual manufacturing overhead costs for the year Actual direct labor costs for the year Actual direct labor hours for the year $103,360 $186,000 3.200 direct labor hours $98,340 $150,000 2,050 direct labor hours The company bases its manufacturing overhead allocation on the number of direct labor hours What was the predetermined overhead allocation rate for the year? (Round your answer to the nearest cent) OA. $32.30 OB. $50.42 OC. $90.73 OD. $1.89 Click to select your