Question 83 4 Points Good News Company estimates that total factory overhead costs will be $560,000 for the year. Direct labor hours are estimated to be 70,000. Required: Compute the following: (a) the predetermined factory overhead rate Blank 1 (b) the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 460 Blank 2 (c) the amount of factory overhead applied to Job 777 if the amount of direct labor hours is 810 Blank 3 Instructions: Type the numerical answer or whole number in the box. No need for peso sign. Use comma as separator such as this 143,000 Blank 1 Add your answer Blank 2 Add your answer Blank 3 Add your answer Question 76 1 Point A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 45,000. Actual manufacturing overhead costs incurred were $377,200, and actual direct labor hours were 46,000. What is the predetermined overhead rate per direct labor hour? A $7.83 B $8.20 $8.00 $8.38 Question 77 1 Point Jobs shipped to customers on account: cost, P412,000; selling price of P638,000 Which of the following journal entries is correct? Accounts Receivable 638,000 Sales Revenue Accounts Receivable Finished Goods Cost of Goods Sold Finished Goods Finished Goods Sales Revenue B 638,000 412,000 412,000 638,000 638,000 412,000 412,000 Net cash flows provided by operating activities, P530,000 Net cash flows used by investing activities, P70,000 Net cash flows provided by financing activities, P100,000 If the beginning balance of cash is P450,000, how much is the ending balance of cash? A) P250,000 B) P1,150,000 C) P700,000 (D) P1,010,000 Question 75 Accounts receivable, P200,000 Building, net of accumulated depreciation P3,000,000 Cash, P800,000 Equipment, net of accumulated depreciation, P400,000 Land P1,500,000 Office supplies on hand, P40,000 Prepaid insurance, P24,000 How much is the total non-current assets? (A) P1,064,000 B) P1,040,000 P4,900,000 D) P5,964,000 Accounts receivable, P200,000 Building, net of accumulated depreciation P3,000,000 Cash, P800,000 Equipment, net of accumulated depreciation, P400,000 Land P1,500,000 Office supplies on hand, P40,000 Prepaid insurance, P24,000 How much is the total current assets? (A) P4,900,000 B) P1,040,000 P5,964,000 D) P1,064,000