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

Author Question: Moira Company has just finished its first year of operations and must decide which method to use for ... (Read 60 times)

Coya19@aol.com

  • Hero Member
  • *****
  • Posts: 601
on: Mar 6, 2021
Moira Company has just finished its first year of operations and must decide which method to use for adjusting cost of goods sold. Because the company used a budgeted indirect-cost rate for its manufacturing operations, the amount that was allocated ($435,000) to cost of goods sold was different from the actual amount incurred ($425,000).

Ending balances in the relevant accounts were:

Work-in-Process$ 40,000
Finished Goods80,000
Cost of Goods Sold680,000

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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Coya19@aol.com on Mar 6, 2021

braelync

  • Sr. Member
  • ****
  • Posts: 350
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.
Answer Preview
Only 64% of students answer this correctly


Coya19@aol.com

  • Member
  • Posts: 601
Reply 2 on: Mar 6, 2021
:D TYSM

kalskdjl1212

  • Member
  • Posts: 353
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Reindeer antlers grow again each year under a layer of fur called velvet. This reindeer is losing th Reindeer antlers grow again each year under a layer of fur called velvet. This reindeer is losing th
scientific method scientific method
For the 2-year-old, encounters with peers provide valuable practice in communication and social ... For the 2-year-old, encounters with peers provide valuable practice in communication and social ...
Delta Method Solution Delta Method Solution
Plot of Land (Modified Offset Method) - Offset lines Plot of Land (Modified Offset Method) - Offset lines
Kindergarten school year book Kindergarten school year book
Video: Exocytosis - secretion

For a complete list of videos, visit our video library