Question

9.. Cerrone Inc. has provided the following data for the monthof July. The balance in the Finished Goods inventory account at thebeginning of the month was $54,000 and at the end of the month was$40,400. The cost of goods manufactured for the month was $269,000.The actual manufacturing overhead cost incurred was $145,100 andthe manufacturing overhead cost applied to Work in Process was$133,000. The adjusted cost of goods sold that would appear on theincome statement for July is: $270,500 $282,600 $294,700 $255,40010.. Meyers Corporation had the following inventory balances at thebeginning and end of November: November 1 November 30 Raw Materials$ 40,000 $ 18,000 Finished Goods $ 110,000 $ 75,000 Work in Process$ 16,000 $ 25,000 During November, $85,000 in raw materials (alldirect materials) were drawn from inventory and used in production.The company's predetermined overhead rate was $7 per directlabor-hour, and it paid its direct labor workers $9 per hour. Atotal of 500 hours of direct labor time had been expended on thejobs in the beginning Work in Process inventory account. The endingWork in Process inventory account contained $10,000 of directmaterials cost. The Corporation incurred $60,000 of actualmanufacturing overhead cost during the month and applied $55,000 inmanufacturing overhead cost. 10. Required information The directmaterials cost in the November 1 Work in Process inventory accounttotaled: $12,500 $8,000 $11,500 $4,500 11... The actual directlabor-hours worked during November totaled: (Round your answers tothe nearest dollar.) 6,667 hours 8,571 hours 6,111 hours 7,857hours 12. On August 1, Shead Corporation had $30,400 of rawmaterials on hand. During the month, the company purchased anadditional $80,000 of raw materials. During August, $85,100 of rawmaterials were requisitioned from the storeroom for use inproduction. These raw materials included both direct and indirectmaterials. The indirect materials totaled $4,000. Prepare journalentries to record these events. Use those journal entries to answerthe following questions: The credits to the Raw Materials accountfor the month of August total: $85,100 $80,000 $110,400 $81,10013...On August 1, Shead Corporation had $30,400 of raw materials onhand. During the month, the company purchased an additional $80,000of raw materials. During August, $85,100 of raw materials wererequisitioned from the storeroom for use in production. These rawmaterials included both direct and indirect materials. The indirectmaterials totaled $4,000. Prepare journal entries to record theseevents. Use those journal entries to answer the followingquestions: The credits to the Raw Materials account for the monthof August total: $85,100 $80,000 $110,400 $81,100