17. The controlling account for the cost ledger is a. b. c. d. Finished Goods Ma
ID: 2510425 • Letter: 1
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17. The controlling account for the cost ledger is a. b. c. d. Finished Goods Materials Work in Process Cost of Goods Sold The Atchison-Topeka Manufacturing Corporation has estimated total factory overhead costs of $95.000 and 10.000 direct labor for the current fiscal year. If Job I8. number 117 incurred 1,600 direct labor hours, the Work in Process account will be debited and Factory Overhead will be credited for a. S1.600 b. $15.200 c. $95.000 d. $96.700 19. Which types of inventories does a manufacturing entity report on the balance sheet? a Finished Goods inventory and Work in Process inventory b. Direct Materials inventory and Work in Process inventory c. Direct Materials inventory. Work in Process Inventory. and Finished Goods inventory d. Direct Materials inventory and Finished Goods inventory 20. Which of the following represents the factory overhead applied to a product? a. predetermined factory overhead rate times estimated activity base b. actual factory overhead rate times estimated activity base c. predetermined factory overhead rate times actual activity base d. actual factory overhead rate times actual activity base Which of the following statements best describes the method to calculate the predetermined factory overhead rate? 21. a. actual total factory overhead costs divided by estimated activity base b. estimated total factory overhead costs divided by estimated activity base c. estimated total factory overhead costs divided by actual activity base d. actual total factory overhead costs divided by actual activity baseExplanation / Answer
17) option c work in process 18) overhead rate = 95000/10000 9.5 per direct labor hour overhead applied = 9.5*1600 15200 option b) $15,200 19) option c Direct materials inventory,work in process inventory, and Finished goods inventory 20) option c predetermined factory overhead rate times actual activity base 21) option b Estimated total factory overhead costs divided by estimated activity base
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