Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 17 Not yet answered Marked out of 0.00 XYZ Company uses a job costing system and applies manufacturing overhead using a predetermined overhead rate
Question 17 Not yet answered Marked out of 0.00 XYZ Company uses a job costing system and applies manufacturing overhead using a predetermined overhead rate based on direct labor hours. Information for the current year is as follows: Estimated manufacturing overhead OMR65,000: Actual manufacturing overhead OMR61,000; Estimated direct labor hours 20,000; Actual direct labor hours 22,000. The amount of over- or underapplied overhead for the year was Flag question Select one: a. OMR9,500 overapplied b. OMR4,000 underapplied C. OMR10,500 underapplied d. None of the answers given e OMR10,500 overapplied F. OMR4,000 overapplied Question 18 Not yet During November at ABC Company, OMR83,000 of raw materials were requisitioned from the storeroom and used in production. These raw materials included both direct and indirect materials. The indirect materials totaled OMR4,000. The journal entry to record the material requisition from the storeroom would include a: answered Marked out of 0.50 Flag question Select one: a. Debit to manufacturing overhead of OMR68,000 b. Debit to work in process of OMR68,000 c. None of the answers given d. Debit to raw materials of OMR73,000 e. Credit to work in process of OMR68,000 f. Credit to manufacturing overhead of OMR5,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started