*** ANSWER QUESTIONS USING FORMAT PROVIDED ***

Required information

[The following information applies to the questions displayed below.] The following information pertains to Trenton Glass Works for the year just ended. Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour Actual direct-labor cost: 80,000 hours at $17.50 per hour Budgeted manufacturing overhead: $997,500 Actual selling and administrative expenses: 435,000

Actual manufacturing overhead:
Depreciation	$	233,000
Property taxes		23,000
Indirect labor		83,000
Supervisory salaries		200,000
Utilities		58,000
Insurance		31,000
Rental of space		303,000
Indirect material (see data below)		79,000
Indirect material:
Beginning inventory, January 1		48,000
Purchases during the year		95,000
Ending inventory, December 31		64,000

Required: 1. Compute the firms predetermined overhead rate, which is based on direct-labor hours. (Round your answer to 2 decimal places.)

2.

Journal entry worksheet 1 > Record entry to close out the Manufacturing Overhead account into Cost of Goods Sold. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal