Loraine Company applies manufacturing overhead to jobs using a predetermined ove

Question

Loraine Company applies manufacturing overhead to jobs using a predetermined overhead rate of 65% of direct labor cost. Any underapplied or overapplied overhead cost is closed to Cost of Goods Sold at the end of the month. During August, the following transactions were recorded by the company:

Raw materials (all direct materials):

Purchased during the month $15,000
Used in production $14,000
Labor:

Direct labor hours worked during the month 1,300
Direct labor cost incurred $25,900
Indirect labor cost incurred $7,800
Manufacturing overhead costs incurred (total) $19,200
Inventories:

Raw materials (all direct) August 31 $8,200
Work in process, August 1 $9,400
Work in process, August 31* $13,800

*contains $5,500 of direct labor cost

1)The amount of direct materials cost in the August 31 Work in Process inventory account was:

2) The entry to dispose of the underapplied or overapplied overhead cost for the month would include:

3) The balance on August 1 in the Raw Materials inventory account was:

Explanation / Answer

what to find ? not mentioned what to find..incomplete question

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