Author Question: Here is some basic data for Harold Company:Cost of materials purchases on account$80,000Cost of ... (Read 78 times)

Diane · **on:** Jan 4, 2020

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 incurred	82,000
Manufacturing overhead costs incurred, including indirect materials	93,500
Cost of goods completed	225,000
Cost of goods sold	137,000
Beginning raw materials inventory	17,000
Beginning work in process inventory	33,000
Beginning finished goods inventory	37,500
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.

chjcharjto14 · **Reply #1 on:** Jan 4, 2020

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