The supplies account had a beginning balance of 1,750 . Supplies purchased during the period totaled 3,500 . At the end of the period before adjustment, 350 of supplies were on hand. Prepare the adjusting entry for supplies.
Question 2
Assume a traditional costing system applies the overhead costs based on direct labor hours. What is the total amount of overhead costs assigned to the standard model?
Comfort Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled:
Number of Number of Number of
Product Setups Components Direct Labor Hours
Standard 12 8 255
Deluxe 28 12 245
Overhead costs 52,000 78,000
A) 65,700
B) 63,600
C) 66,300
D) 66,700