Business, 21.05.2021 17:40 asorrell5075
Carson Inc. has provided the following data for the month of May. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.
Work-in-Process Finished Goods Cost of Goods Sold Total
Direct materials $5,010 $11,500 $111,320 $127,830
Direct labor 2,430 10,500 101,640 114,570
Manufacturing
overhead applied 3,200 7,200 69,600 80,000
Total $10,640 $29,200 $282,560 $322,400
Manufacturing overhead for the month was underapplied by $10,000. The company allocates any underapplied or overapplied overhead among Work-in-Process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts. The journal entry to record the allocation of any underapplied or overapplied overhead for May would include the following:
a. credit to Finished Goods of $900.
b. debit to Finished Goods of $29,200.
c. credit to Finished Goods of $29,200.
d. debit to Finished Goods of $900.
Answers: 3
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Carson Inc. has provided the following data for the month of May. There were no beginning inventorie...
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