This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Here is selected data for Lorelei Corporation:Cost of raw material purchased$75,000Cost of ... (Read 92 times)

crazycityslicker

  • Hero Member
  • *****
  • Posts: 537
on: Jan 4, 2020
Here is selected data for Lorelei Corporation:

Cost of raw material purchased$75,000
Cost of requisitioned direct materials    41,000
Cost of requisitioned indirect materials2,000
Direct labour75,000
Manufacturing overhead incurred    95,000
Cost of goods completed  226,750
Cost of goods sold138,000
Beginning raw materials inventory    15,000
Beginning work in process inventory32,000
Beginning finished goods inventory31,000
Manufacturing overhead allocation rate (based on direct labour)       125%


At Lorelei Corporation the journal entry to close manufacturing overhead would include a
◦ credit to manufacturing overhead for $1,250.
◦ debit to manufacturing overhead for $1,250.
◦ credit to manufacturing overhead for $1,450.
◦ credit to cost of goods sold for $1,250.
Managerial Accounting, Canadian Edition ¦ Braun, Tietz, Pyper ¦ 2nd Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by crazycityslicker on Jan 4, 2020

peter

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jan 4, 2020
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.
Answer Preview
Only 55% of students answer this correctly


crazycityslicker

  • Member
  • Posts: 537
Reply 2 on: Jan 4, 2020
YES! Correct, THANKS for helping me on my review

diana chang

  • Member
  • Posts: 288
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after
Selected skeletal muscles (anterior view). Selected skeletal muscles (anterior view).
Interventions for Selected Co-Occurring Conditions Interventions for Selected Co-Occurring Conditions
Selected Over-the-Counter Antihistamine Combinations Selected Over-the-Counter Antihistamine Combinations
Selected Drugs for Helminth and Protozoan Infections Selected Drugs for Helminth and Protozoan Infections
A wrench after it has been forged but before the flashing (extra material around the wrench) has ... A wrench after it has been forged but before the flashing (extra material around the wrench) has ...
Video: Electrical Conduction System of the Heart

For a complete list of videos, visit our video library