Question

114. Gullett Corporation had $26,000 of raw materials on hand on November 1. During the month, the company purchased an additional $75,000 of raw materials. The journal entry to record the purchase of raw materials would include a A. debit to Raw Materials of $101.000 B. credit to Raw Materials of $75,000 C. debit to Raw Materials of $75,000 D. credit to Raw Materials of $101.000 115. In October, Raddatz Inc. incurred $73,000 of direct labor costs and S6,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a: A. debit to Manufacturing Overhead of $6,000 B. debit to Work in Process of $79,000 C. credit to Manufacturing Overhead of S6,000 D. credit to Work in Process of $79,000 116. Piekos Corporation incurred $90,000 of actual Manufacturing Overhead costs during June. During the same period, the Manufacturing Overhead applied to Work in Process was $92,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a: A. debit to Manufacturing Overhead of $92,000 B. debit to Work in Process of $90,000 C. credit to Manufacturing Overhead of $92,000 D. credit to Work in Process of $90,000 117. During June, Buttrey Corporation incurred $67,000 of direct labor costs and $7,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a: A. debit to Work in Process of $67,000 B. credit to Work in Process of $74,000 C. debit to Work in Process of $74,000 D. credit to Work in Process of $67,000 118. Serritella Manufacturing Corporation uses a job-order costing system. At the beginning of the year. Serritella had $38,000 in its Work in Process inventory account. The following information relates to Serritella's operations for the year: Direet materials cost assigned to production... Direct labor cost assigned to production......... Selling, general, and administrative expenses incurred.. Manufacturing overhead cost incurred ... Underapplied manufacturing overhead cost Cost of goods manufactured Cost of goods sold... $114,000 $78,000 $25.000 $206,000 $11,000 5502,000 5509,000 What is the balance in Serritella's Work in Process inventory account at the end of the year? (Assume that the Manufacturing Overhead account has not yet been closed out.) A. $13,000 B. $24,000 C. $35,000 D. $60,000

Answer 1

Solution:

114.)

Option 'C' is correct option.

Explanation:

No.of event	General Journal	Debit	Credit
1.	Raw materials	$75,000
	Accounts payable		$75,000
	(To record purchase of raw materials)

115.

Option A is correct option.

Explanation:

No.of Event	General Journal	Debit	Credit
1.	Work in process	$73,000
	Manufacturing overhead	$6,000
	Wages payable		$79,000
	(To record accural wages )

116.

Option'C' is correct option.

Explanation:

No.of Event	General Journal	Debit	Credit
1.	Work in process	$92,000
	Manufacturing overhead		$92,000
	(To record the application of manufacturing overhead to work in process)

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