The following selected ledger accounts of Cameron Company are for February (the second month of its accounting year):

Materials Inventory
Feb. 1 balance	113,400	February credits	406,800
February debits	374,400
Manufacturing Overhead
February debits	493,920	Feb. 1 balance	41,760
		February credits	490,860
Work in Process Inventory
Feb. 1 balance	80,640	February credits	1,242,000
February debits:
Direct material	342,000
Direct Labor	545,400
Man. overhead	490,860
Wages Payable
February debits	696,600	Feb. 1 balance	162,000
		February credits	637,200
Finished Goods Inventory
Feb. 1 balance	275,400	February credits	1,381,320
February debits	1,242,000

a. Determine the amount of indirect material requisitioned for production during February.

b. How much indirect labor cost was apparently incurred during February?

c. Calculate the manufacturing overhead rate based on direct labor cost.

d. Was manufacturing overhead for February under-or overapplied, and by what amount?

e. Was manufacturing overhead for the first two months of the year under-or overapplied, and by what amount?

Answer rating: 100% (QA)

a Indirect material requisitioned for Feb Debits to Materials Inventory Credits from materials purch... View the full answer