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On November 1. Arvelo Corporation had $3.500 of raw materials on trand, During the month. The company purchased an adeftional 574,500 of raw materials During November $88,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The Indirect materials totaled $3700. Prepare journal entries to record these events. Use those journal entries to answer the following questions The credits to the Raw Materials account for the month of November total Multiple Choice $80,000 $74 500 SH0.000 $35 500 Matthias Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of May. Prior to the closing of the overapplied or underappled balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $61.000 and the total of the credits to the account was $85,000. Which of the following statements is true? Multicle Choice Actu marfactoring overhead incurred during the month was $95.000 Manufacturing overhead for the month was underopened by $24.000 Manctacturing overhand transaned from Frohed Goods to cost of Goods Sold during the month was $6.000 Manufacturing overhead poed to Work in Process for the month was $85.000 15,400 (c) 171,600 219, eee e Manufacturing Overhead Finished Goods Debit Credit Debit Balance Credit 219, eee e (8) 524,400 46,400 478,000 (6) (c) (d) 23,800(e) 27,800 159,6ee 7.800 Cest of Goods Sold Debit Credit (8) 478,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor couts. What is the manufacturing overhead overapplied or underapplied for the year? Multiple Choice $27,800 underapplied 57.800 underapplied $7.800 overapplied $27.800 overopplied Blottum Corporation, a manufacturing Corporation has provided data concerning its operations for May. The beginning balance in the raw materials account was $27.000 and the ending balance was $50.000. Raw materials purchases during the month totaled 577000. Manufacturing overhead cost incurred during the month was $118.000, of which $3.400 consisted of raw materials classified as indirect materials. The direct materials cost for May was Multiple Choice $54,000 $77000 $50,600 Cr $100.000 Compute the amount of raw materials used during November if $33,000 of raw materials were purchased during the month and if the inventories were as follows: Inventories Raw materials Work in process Finished goods Balance November 1 $8,2ee $6,600 $10,600 Balance November 30 $4,600 $8,100 $12,6ee Multiple Choice $33100 $30 GOO 534 500 536.600