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Author Question: Here is some basic data for Harold Company:Cost of materials purchases on account$80,000Cost of ... (Read 30 times)

Diane

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Here is some basic data for Harold Company:

Cost of materials purchases on account$80,000
Cost of materials requisitioned (includes $2,000 of indirect)51,000
Direct labour costs incurred82,000
Manufacturing  overhead costs incurred, including indirect materials93,500
Cost of goods completed225,000
Cost of goods sold137,000
Beginning raw materials inventory   17,000
Beginning work in process inventory33,000
Beginning finished goods inventory37,500
Predetermined manufacturing overhead rate (as % of direct labour cost)120%

The journal entry to record the allocation of manufacturing overhead involves a debit to work in process inventory of
◦ $61,200.
◦ $98,400.
◦ $93,500.
◦ $68,333.


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Marked as best answer by Diane on Jan 4, 2020

chjcharjto14

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Diane

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Reply 2 on: Jan 4, 2020
YES! Correct, THANKS for helping me on my review


ebonylittles

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Reply 3 on: Yesterday
Excellent

 

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