The Putney Company reports the following information:   …

The Putney Company reports the following information:    Sales $76,500 Cost of direct materials used in production $7,300 Depreciation on factory equipment $4,700 Indirect labor $5,900 Direct labor $10,500 Factory rent $4,200 Factory utilities $1,200 Sales salaries expense $15,600 Office salaries expense $8,900 Indirect materials $1,200 What are the Product costs and Period costs?

A manufacturing company applies factory overhead based on di…

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $358,400 and direct labor hours would be 46,200. Actual manufacturing overhead costs incurred were $305,800, and actual direct labor hours were 50,100. Round any intermediary calculations to 2 decimal places. What would the entry to apply the factory overhead costs for the year include?