Question

The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing​ Company: Work in process inventory ​$0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional​ data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $ 251 comma 000 of direct labor cost and $ 350 comma 300 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No.​ 151, for which total direct labor charges were $ 6 comma 100 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 100. 5. Cost of direct materials placed in production during January totaled $ 123 comma 200. There were no indirect material requisitions during January. 6. January 31 balance in raw materials inventory was $ 35 comma 400. 7. Finished goods inventory balance on January 31 was $ 34 comma 500. What is the predetermined manufacturing overhead​ rate?

Answer 1

Answer:eral ledger of Fresh Bagel Manufacturing​ Company: Work in process inventory ​$0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional​ data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The

Explanation:

ocess inventory ​$0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional​ data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The predetermined manufacturing overhead rate is based on directestion

The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing​ Company: Work in process inventory ​$0 Raw materials inventory $ 28 comma 000 Finished goods inventory $ 40 comma 100 Additional​ data: 1. Actual manufacturing overhead for January amounted to $ 62 comma 900. 2. Total direct labor cost for January was $ 63 comma 500. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $ 251 comma 000 of direct labor cost and $ 350 comma 300 of manufacturing overhead costs. 4. The only job unfinished on January 31 was Job No.​ 151, for which total direct labor charges were $ 6 comma 100 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 100. 5. Cost of direct materials placed in production during January totaled $ 123 comma 200. The