I need help with these questions! Thank You! 14. Galtreck Manufacturing Inc.'s accounting...
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14. Galtreck Manufacturing Inc.'s accounting records reflect the following inventories: Dec. 31, 2005 $100,000 130,000 125,000 Dec. 31, 2006 Raw materials inventory Work in process inventory Finished goods inventory During 2006, Caltreck purchased $950,000 of raw materials, incurred direct labour costs of $125,000, and incurred manufacturing overhead totalling $160,000 145,000 115,000 How much is raw materials transferred to production during 2006 for altreck Manufacturing? a. $1,240,000 b. $970,000 c. $950,000 d. $930,000 e. None of the above. 15. Cal, Inc. showed the following amounts in its manufacturing overhead account at the end of 2006 Manufacturing Overhead 20,000 16,00055,000 22,000 Based on this information, which statement is true? a. No manufacturing overhead has been applied b. Manufacturing overhead expense will be reported in the operating section of the income statement in the amount of $3,000 c. Manufacturing overhead has been over applied. d. Manufacturing overhead has been under applied e. None of the above
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