In: Accounting
Office Works has an order to manufacture several specialty products. The beginning cash and equity balances were $105,000. All other beginning balances were $0. Use your T-Account worksheet to record the following transactions:
Now, CHOOSE 6 CORRECT STATEMENTS from the choices below. You should have 6 check marks indicating your answer choices. Each answer choice is worth 4 points:
1. The predetermined overhead rate is?
2. The direct labor that is debited to labor expense is?
3. How much are the total current manufacturing costs?
4. How much revenue did the company earn?
5. By how much was MOH over/under applied?
6. How much are the costs of goods manufactured?
Group of answer choices
The cost of goods manufactured is $40,000
The amount of sales revenue earned was $50,000
The amount of over/under applied MOH is $0
The predetermined MOH rate is $1.25
The amount of sales revenue earned was $50,700
The direct labor that will be debited to direct labor expense is $160,137
The direct labor that will be debited to direct labor expense is $40,960
The predetermined MOH rate is $.80
The amount of over/under applied MOH is $960
The direct labor that will be debited to direct labor expense is $0
The cost of goods manufactured is $50,000
The total current manufacturing costs are $137,160
The direct labor that will be debited to direct labor expense is $160,200
The cost of goods manufactured is $39,000
The direct labor that will be debited to direct labor expense is $51,200
The predetermined MOH rate is $..75
The amount of over/under applied MOH is $1,000
The amount of sales revenue earned was $39,000