Business, 21.01.2021 22:20 euraleecewilliams

Manufacturing overhead applied $ 150,000 Actual amount of manufacturing overhead costs 120,000 Amount of overhead applied during the year that is in: Work in Process $ 37,500 25 % Finished Goods 52,500 35 % Cost of Goods Sold 60,000 40 % Total overhead applied $ 150,000 100 % Knowledge Check 01 If the Manufacturing Overhead account is closed to Cost of Goods Sold, the related entry will . multiple choice 1 decrease the cost of goods sold by $30,000 increase the cost of goods sold by $30,000 decrease the cost of goods sold by $150,000 increase the cost of goods sold by $150,000 Knowledge Check 02 If the Manufacturing Overhead account is closed proportionally to Work in Process, Finished Goods, and Cost of Goods Sold, the related entry will include a . multiple choice 2 debit to Cost of Goods Sold for $12,000 credit to Cost of Goods Sold for $12,000 credit to Cost of Goods Sold for $30,000 debit to Work in Process for $7,500

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 23:00, joannegrace869

Which of the following statements is correct? a. two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition. b. free cash flow (fcf) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations. c. retained earnings as reported on the balance sheet represent cash and, therefore, are available to distribute to stockholders as dividends or any other required cash payments to creditors and suppliers. d. if a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow. e. after-tax operating income is calculated as ebit(1 - t) + depreciation.

Answers: 2

continue

Business, 22.06.2019 03:30, binodkharal2048

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

Answers: 2

continue

Business, 22.06.2019 09:00, nadiarose6345

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?

Answers: 2

continue

Business, 22.06.2019 11:50, ayoismeisalex

Select the correct answer. ramon applied to the state university in the city where he lives, but he was denied admission. what should he do now? a. change his mind about graduating and drop out of high school so he can start working right away. b. decide not to go to college, because he didn’t have a backup plan. c. stay positive and write a mean letter to let the college know that they made a bad decision. d. learn from this opportunity, reevaluate his options, and apply to his second and third choices.

Answers: 2

continue

You know the right answer?

Manufacturing overhead applied $ 150,000 Actual amount of manufacturing overhead costs 120,000 Amoun...