Daane Company Had Only One Job in Process on May

question 16

Multiple Choice

Daane Company had only one job in process on May 1. The job had been charged with $1,000 of direct materials, $3,302 of direct labor, and $5,382 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $20.70 per direct labor-hour.
During May, the following activity was recorded:

Work in process inventory on May 30 contains $2,921 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.
-The entry to dispose of the underapplied or overapplied manufacturing overhead cost for the month would include a:

• A)debit of $1,350 to Manufacturing Overhead.
• B)credit of $4,761 to Manufacturing Overhead.
• C)credit of $1,350 to Manufacturing Overhead.
• D)debit of $4,761 to Manufacturing Overhead.

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Definitions:

Echo Boomers

Another term for Millennials, the demographic cohort following Generation X, born approximately between 1981 and 1996, known for their tech-savviness and impact on cultural and economic trends.

Generation Y

Also known as Millennials, the demographic cohort following Generation X, typically considered to be born between the early 1980s and the mid-1990s to early 2000s.

University Students

Individuals enrolled in institutions of higher education pursuing undergraduate, postgraduate, or doctoral degrees.

Stifled

Suppressed, curtailed, or inhibited, often referring to the restriction of growth, expression, or development.