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Author Question: Jacobs Company manufactures refrigerators. The company uses a budgeted indirect-cost rate for its ... (Read 43 times)

kamilo84

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on: Mar 6, 2021
Jacobs Company manufactures refrigerators. The company uses a budgeted indirect-cost rate for its manufacturing operations and during 2018 allocated $1,000,000 to work-in-process inventory. Actual overhead incurred was $1,100,000.

Ending balances in the following accounts are:
Work-in-Process$ 100,000
Finished Goods750,000
Cost of Goods Sold4,150,000

Required:
a.Prepare a journal entry to write off the difference between allocated and actual overhead 
directly to Cost of Goods Sold. Be sure your journal entry closes the related overhead accounts.

b.Prepare a journal entry that prorates the write-off of the difference between allocated and 
actual overhead using ending account balances. Be sure your journal entry closes the related overhead accounts.
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by kamilo84 on Mar 6, 2021

durant1234

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Reply #1 on: Mar 6, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kamilo84

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Reply 2 on: Mar 6, 2021
Great answer, keep it coming :)

kjohnson

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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