Question
Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $408,000, and direct labor
Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $408,000, and direct labor costs to be $2,040,000. Actual overhead costs for the year totaled $386,000, and actual direct labor costs totaled $1,820,000. At year-end, the balance in the Factory Overhead account is a:
Select one:
a. $22,000 Credit balance.
b. $364,000 Debit balance.
c. $22,000 Debit balance.
d. $408,000 Credit balance.
e. $386,000 Debit balance.
Using the information below, compute the days' sales in raw materials inventory:
Raw materials used$ 121,600Beginning raw materials inventory18,000Ending raw materials inventory20,200Select one:
a. 6.02.
b. 60.63.
c. 6.76.
d. 54.03.
e. 6.37.
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