During January 2020 General Fund supplies ordered in the previous fiscal year and encumbered at an estimated amount of $2,000 were received at an actual cost of $2,200. The entry to record this transaction will require a debit to:

Expenditures-2020 in the amount of $200

Explanation:

General fund supplies made last year were an estimated amount of $2000 was spent. So for last year there would have been a debit and credit leg for this transaction as.

In the present year 2020 it was received at an actual cost of $2,200. The excess cost (2,200-2,000= $200) must be recognised.

So the debit is passed into expenditures for this year 2020 for amount $200.

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urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total