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The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company: Work in process inventory
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company: Work in process inventory Raw materials inventory Finished goods inventory Additional data: $0 $28,100 $40,600 1. Actual manufacturing overhead for January amounted to $66,400. 2. Total direct labor cost for January was $63,400. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $250,900 of direct labor cost and $350,200 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $6200 (800 direct labor hours) and total direct material charges were $14,100. 5. Cost of direct materials placed in production during January totaled $123,600. There were no indirect material requisitions during January. 6. January 31 balance in raw materials inventory was $36,000. 7. Finished goods inventory balance on January 31 was $35,300. What is the predetermined manufacturing overhead rate? 98% 72% 69% 140%
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