Problem $7-70($Algo$)$ Find Missing Data $($LO $7-2,3)$

Accounting records for Antoinette Designs $($AD$)$ for November show the following $($each entry is the total of the actual entries for the account for the month$)$:

Account Titles Debit Credit

Work$-$in$-$Process Inventory $($Direct Labor$)7,680$

Wages Payable $7,680$

Direct Materials Inventory $123,330$

Accounts Payable $123,330$

Finished Goods Inventory $138,000$

Work$-$in$-$Process Inventory $138,000$

Cost of Goods Solda $142,260$

Finished Goods Inventory $142,260$

aThis entry does not include any over$-$ or underapplied overhead. Over$-$ or underapplied overhead is written off to Cost of Goods Sold once for the month. For November, the amount written off was $5$ percent of overhead applied for November. Overhead is applied on the basis of direct labor costs.

The Work$-$in$-$Process Inventory ending account balance on November $30$ was $125$ percent of the beginning balance. The Direct Materials Inventory ending balance on November $30$ was $$3,450$ less than the beginning balance. The Finished Goods Inventory beginning balance on November $1$ was $$20,520.$

The September income statement shows revenues of $$219,000$ and a gross profit of $$77,700.$

Required:

What was the finished goods inventory balance on November $30?$

How much manufacturing overhead was applied for November?

What was the manufacturing overhead rate for November?

How much manufacturing overhead was incurred for November?

What was the Work$-$in$-$Process Inventory on November $1?$

What was the Work$-$in$-$Process Inventory on November $30?$