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The following T-accounts have been constructed from last year's records at C&C Manufacturing: Raw Materials Bal 10,000 (b) 252,000 (a) 247,000 5,000 Work In Process
The following T-accounts have been constructed from last year's records at C&C Manufacturing:
Raw Materials | |||
Bal | 10,000 | (b) | 252,000 |
(a) | 247,000 | ||
5,000 |
Work In Process | |||
Bal | 6,000 | (f) | 506,000 |
(b) | 161,000 | ||
(c) | 154,000 | ||
(e) | 192,500 | ||
7,500 |
Finished Goods | |||
Bal | 0 | (g) | 500,000 |
(f) | 506,000 | ||
6,000 |
Manufacturing Overhead | |||
(b) | 91,000 | (e) | 192,500 |
(c) | 26,000 | ||
(d) | 78,000 | ||
195,000 | 192,500 | ||
2,500 | (h) | 2,500 |
Cost of Goods Sold | |||
(g) | 500,000 | ||
(h) | 2,500 | ||
C&C Manufacturing uses job-order costing with a predetermined overhead rate and applies manufacturing overhead to jobs based on direct labor costs. What is the predetermined overhead rate?
A) 125%
B) 120%
C) 105%
D) 100%
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