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Author Question: The Robinson Corporation manufactures automobile parts. During the year, the company sold $5,600,000 ... (Read 31 times)

anjilletteb

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on: Mar 6, 2021
The Robinson Corporation manufactures automobile parts. During the year, the company sold $5,600,000 of parts that had a cost of $3,200,000. At year end, these are the balances for cost of goods sold and its manufacturing overhead accounts:

Cost of goods sold $3,200,000
Manufacturing overhead allocated $1,400,000
Manufacturing overhead control $1,495,000

What would be the correct journal entry to close out the overhead accounts assuming that the write-of to cost of goods sold approach is used?
◦
Manufacturing overhead control $1,495,000
  Cost of goods sold  $95,000
  Manufacturing overhead allocated $1,400,000
◦
Sales $5,600,000
 Cost of goods sold  $3,200,000
 Gross profit $2,400,000
◦
Finished goods $95,000
Manufacturing overhead allocated  $1,400,000
   Manufacturing overhead control $1,495,000
◦
Cost of goods sold $95,000
Manufacturing overhead allocated  $1,400,000
   Manufacturing overhead control $1,495,000
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by anjilletteb on Mar 6, 2021

momo1250

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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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anjilletteb

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Reply 2 on: Mar 6, 2021
Excellent

recede

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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