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Question
The Quadrangle Fabrication Plant had a fire at the beginning of 2013 and most of the records for the year 2012 were lost. Some data for the year 2012 were located by the accountants and are shown below.
Total manufacturing overhead estimated at the beginning of the year: $105,840
Total direct labor costs estimated at the beginning of the year: $186,000
Total direct labor hours estimated at the beginning of the year: 3,600 direct labor hours
Actual manufacturing overhead costs for the year: $99,760
Actual direct labor costs for the year: $142,000
Actual direct labor hours for the year: 2,950 direct labor hours
The company bases its manufacturing overhead allocation on direct labor hours. 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 the nearest whole dollar.)
A) $6,080 credit balance
B) $4,982 debit balance
C) $13,030 credit balance
D) $13,030 debit balance
Answer
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