Crane's Manufacturing calculated its predetermined overhead rate to be 180% of direct materials costs. For the month of July, the company incurred $118000 of raw material costs, of which $89000 were direct materials, and $29000 were indirect materials. Actual overhead incurred was $174000. What would be the debit entry to the Work in Process Inventory account for July with respect to manufacturing overhead? $174000 $160200 $212400 $zero, the account should be credited

Crane's Manufacturing calculated its predetermined overhead rate to be 180% of direct materials costs. For the month of July, the company incurred $118000 of raw material costs, of which $89000 were direct materials, and $29000 were indirect materials. Actual overhead incurred was $174000. What would be the debit entry to the Work in Process Inventory account for July with respect to manufacturing overhead? $174000 $160200 $212400 $zero, the account should be credited

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Description: Crane's Manufacturing calculated itspredetermined overhead rate to be 180% ofdirect materials costs. For the month of July,the company incurred $118000 of rawmaterial costs, of which $89000 were directmaterials, and $29000 were indirect materials.Ac

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 8MC: A company calculated the predetermined overhead based on an estimated overhead of $70.000, and the...

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