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If a company uses a predetermined overhead rate, which of the following statements is correct? Multiple Choice Manufacturing Overhead will be debited for estimated overhead.

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If a company uses a predetermined overhead rate, which of the following statements is correct? Multiple Choice Manufacturing Overhead will be debited for estimated overhead. Manufacturing Overhead will be credited for estimated overhead. Manufacturing Overhead will be debited for actual overhead. Manufacturing Overhead will be credited for actual overhead. Which of the following would be used to transfer the cost of completed goods during the period to the Finished Goods account? Multiple Choice Credit to Raw Materials Inventory. Credit to Work in Process Inventory. Debit to Manufacturing Overhead. Credit to Manufacturing Overhead. Manufacturing overhead was estimated to be $331,200 for the year along with 20,700 direct labor hours. Actual manufacturing overhead was $421,800, and actual labor hours were 21,300. The amount debited to the Manufacturing Overhead account would be: Multiple Choice $331,200 $421,800. $440,300. $340,800 Exami Beginning Ending Inventory Inventory (1/1) (12/31) $ 22,600 $ 36,500 $ 19,800 $ 22,800 $ 39, 400 $ 25,100 Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Additional information for the year is as follows: Raw materials purchases $105,700 Direct labor $ 76,400 Manufacturing overhead applied $ 82,400 Indirect materials $ Compute the direct materials used in production Multiple Choice $36,500 $119,600 $22,600 Work in Process Inventory Finished Goods Inventory (1/1) $ ?? $ ?? (12/31) $ 40,000 $ 35,000 Additional information for the year is as follows: Direct materials used $225,000 Direct labor $175,000 Manufacturing overhead applied $185,000 Cost of goods manufactured $550,000 Unadjusted cost of goods sold $569,000 What was the beginning Finished Goods Inventory balance on 1/1? Multiple Choice $54,000 $70,000 $55,000 Wacker, Inc. produces two different products (Product 5 and Product Z) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver. The cost of Machining is $82,000, while the cost of Inspection is $3,400. Product 5 uses 34% of total machine hours and 80% of total batches. What is the total Machining cost assigned to Product Z? Multiple Choice $1.156 $27,880 $54,120 $2,244

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