Bretthauer Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of July. Prior to the closing of the over applied or under applied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $64,000 and the total of the credits to the account was $51,000. Which of the following statements is true?
A. Actual manufacturing overhead incurred during the month was $51,000.
B. Manufacturing overhead applied to Work in Process for the month was $51,000.
C. Manufacturing overhead for the month was overapplied by $13,000.
D. Manufacturing overhead applied to Work in Process for the month was $64,000.
Answer: B. Manufacturing overhead applied to Work in Process for the month was $51,000.
.
The total of the debits represents the actual manufacturing overhead expenses incurred = $64,000
The total of the credits represents the amount of overhead applied (bases on predetermined overhead rate) = $51,000
Actual manufacturing overhead expenses = $64,000
Manufacturing overhead applied = $51,000
Since the amount of manufacturing overhead applied ($51,000) is less than the actual manufacturing overhead ($64,000), manufacturing overhead is considered to be underapplied.
Underapplied overapplied amount = $64,000 - $51,000 = $13,000
Bretthauer Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of July....
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