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Rockman Company's inventory transactions are given below S Particulars Amount Details Beginning Raw Material 155,500 Purchase of raw materials 276,000 Raw Material Issued Material Requisition 1281 Material Requisition 1282 152,400 For Job 1001 165,100 For Job 1002 For Multiple Jobs Material Requisition 1283 76,500 What would be the ending balance of Raw Materials Inventory account.? Ending Balance of Raw Material Inventory Account is $37,500 a. b. Ending Balance of Raw Material Inventory Account is $73,500 Ending Balance of Raw Material Inventory Account is $76,500 C. d. Ending Balance of Raw Material Inventory Account is $113,500 ABC Incorporation provides the following information for November 2018 Budgeted Production 200 units Standard consumption of raw materials 2 kg per unit Standard cost of raw material = $6 per kg Actual Production = 250 units Material A was production. Calculate the material price variance. purchased at S8 per kg and the consumption was 1.8 kg per unit of a. $900 Favorable b. $900 Unfavorable c. $600 Favorable d. $600 Unfavorable An equipment appears in the balance sheet of a company at $15,000 with a remaini useful life of 3 years. During the year, the company incurred an amount of $3,480 to rep the equipment which increased the useful life of the equipment from 3 years to 5 yea Prepare the jourmal entry to show the amount incurred to repair the equipment a. Debit Repairs expense account for $3,480 and credit the Cash account for $3,48 b. Debit Repairs expense account for $3,480 and credit the Equipment account $3,480 c. Debit Equipment account for $3,480 and credit the Cash account for $3,480 d. Debit Equipment account for $3,480 and credit the Repairs expense account $3.480 A company estimated the manufacturing overhead costs for the coming year at $420,000 The total estimated direct labor hours are 15,000 hours, and the estimated machine hours to be worked are 6,000 hours. The company allocates its manufacturing overhead costs based on the direct labor hours. What is the pre-determined overhead allocation rate? a. $20 per direct labor hour b. S70 per machine hour $28 per machine hour c. d. $28 per direct labor hour A company rented a premise for a year and paid a rent of $24,000 on October 01, 2018 Prepare the adjusting entry to be recorded on December 31, 2018 a. Debit Rent expenses account for $6,000 and credit the Prepaid rent account fo $6,000 b. Debit Rent expenses account for $12,000 and credit the Prepaid rent account fo $12,000 c. Debit Prepaid rent account for $6,000 and credit the Rent expenses account fo $120,000 d. Debit Prepaid rent account for $9,000 and credit the Rent expenses account foi $9,000