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Question
Archangel Manufacturing has just finished the year 2012. They created a predetermined manufacturing overhead allocation rate at the beginning of the year based on a percentage of direct labor costs. Below are various data:
Total manufacturing overhead estimated at the beginning of the year: $140,000
Total direct labor costs estimated at the beginning of the year: $350,000
Total direct labor hours estimated at the beginning of the year: 12,000 direct labor hours
Actual manufacturing overhead costs for the year: $159,000
Actual direct labor costs for the year: $362,000
Actual direct labor hours for the year: 12,400 direct labor hours
Based on the data above, what was the preliminary ending balance in the manufacturing overhead account, prior to the year-end adjustment to clear the balance to zero? (Please round to nearest whole dollar.)
A) $19,000 credit balance
B) $19,000 debit balance
C) $14,200 credit balance
D) $14,200 debit balance
Answer
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