On-time truckers prepares monthly financial statements. on july 1, the supplies account had a balance of $3,500. during july, additional supplies were purchased for $4,800 and that amount was debited to supplies expense. on july 31, a physical count of supplies revealed that there was $2,200 on hand. prepare the adjusting journal entry that on-time truckers should make on july 31.

Moody corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. at the beginning of the year, the company made the following estimates: machine-hours required to support estimated production 100,000 fixed manufacturing overhead cost $ 650,000 variable manufacturing overhead cost per machine-hour $ 3.00 required: 1. compute the plantwide predetermined overhead rate. 2. during the year, job 400 was started and completed. the following information was available with respect to this job: direct materials $ 450 direct labor cost $ 210 machine-hours used 40