The Johnson Pattern and Machine Works Manufacturing Corporation presents the fol

Question

The Johnson Pattern and Machine Works Manufacturing Corporation presents the following general ledger accounts and amounts: 14. The Work in Process Account reveals the following data: (a) October 1 st debit balance. $20.000: (b) October 31st Direct Materials debit posting. $96.700: (b) October 31st Direct Labor debit posting. $201.000: (c) October 31t Factory Overhead debit posting, unknown: and (d) October 31t Goods Finished credit posting. unknown. The Finished Goods Account reveals the following data: (a) October 1 st debit balance. $52.000 and (b) October 31st Goods Finished debit posting. $360.000. If the balance of Work in Process at October 31st is $21.000. what was the amount of Factory Overhead applied in October? a. $63.300 b. $21.300 c. $42.300 d. S11.300 Backsp

Explanation / Answer

14. c. $42,300 Explanation: Work in process A/c Particulars Amount ( $ ) Goods finished credit (Given in finished goods a/c)                 360,000 Less: Op. WIP debit                   20,000 Less: Direct material debit                   96,700 Less : Direct labour debit                 201,000 Balance remaining in WIP a/c is Factory overhead applied                   42,300 Please hit the like button if the answer helped you else leave a comment for further clarification. Thank you! All the best!

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