depreciation) totals $1 2,000 on July 31, Year 3. on and answer in the bOx For

Wolfpack Corp. has determined it should record depreciation expense of $40,000 for the year ending 12/31/X7. Required: In the general journal below, complete the year-end entry to record depreciation.     Debit Credit Dec 31 ? 40,000            ?   40,000

A company purchased $206,000 of fixed assets that are classified as five-year MACRS property. The MACRS rates are 2, 32, 192, 1152 1152, and .0576 for Years 1 to 6, respectively. What will the accumulated depreciation be at the end of Year 4 if the tax rate is 24 percent and no bonus depreciation is taken? Instruction: Enter your response rounded to two decimal places.

Selected T-accounts of Moore Company are given below for the just completed year: Balance 1/1 Debits Balance 12/31 Debits Debit Debits Debit Balance 1/1 Direct materials Direct labor Overhead Balance 12/31 Debits Debit Debit Debit Balance 1/1 Debits Balance 12/31 Debit Raw Materials 15,000 Credits 120,000 25,000 Manufacturing Overhead 230,000 Credits Work in Process 20,000 Credits 90,000 150,000 240,000 ? Factory Wages Payable 185,000 Balance 1/1 Credits Finished Goods 40,000 Credits ? Credit 60,000 Cost of Goods Sold Credit Balance 12/31 Credit Credit Credit Credit ? ? 470,000 9,000 180,000 4,000 ? Required: 1. What was the cost of raw materials used in production? 2. How much of the materials in (1) above consisted of indirect materials? 3. How much of the factory labor cost is indirect labor?