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nadezda [96]
2 years ago
5

Bretthauer Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of July. Prio

r to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $55,000 and the total of the credits to the account was $66,000. Which of the following statements is true?
a. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $55,000.
b. Manufacturing overhead applied to Work in Process for the month was $66,000
c. Actual manufacturing overhead incurred during the month was $66,000
d. Manufacturing overhead for the month was underapplied by $11,000
Business
1 answer:
Elanso [62]2 years ago
7 0

Answer:

b. Manufacturing overhead applied to Work in Process for the month was $66,000

Explanation:

In posting the journal entries for a manufacturing company, the total of the amount on the credit side of the Manufacturing Overhead account represents the amount applied to and to be posted to the debit side of the Work in Process to complete the double entries.

Therefore, the correct option form the question is b. Manufacturing overhead applied to Work in Process for the month was $66,000.

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Answer:

Wildhorse Co.’s books

Perpetual Inventory System

Date                  Account                                        Dr.              Cr

5 April                 Merchandise Inventory       $28,200

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Purchased merchandise from Carla Vista Company for $28,200, terms 2/10, n/30.

6 April                 Freight Charges                  $ 710

                                Cash                                                   $ 710

Paid freight costs of $710

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Purchased equipment on account for $33,200.

8 April                 Accounts Payable             $3800

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Returned $3,800 of April 5 merchandise

15 April                  Accounts Payable               $ 24,400

                                 Purchases Discount                              488

                                 Cash                                                       $ 23,912

Paid the amount due ($28,200- $3800= $24,400)

2% of $ 24,400= $ 488

b. Payment of balance due on May 4 instead of Apr 5

4 May                Accounts Payable             $ 24,400

                                   Cash                                                  $ 24,400

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I am pretty sure it’s D.
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Answer:

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Explanation:

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We simply divide the long term debt with the total shareholder equity to find out the ratio between them

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