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

Author Question: The Robinson Corporation manufactures automobile parts. During the year, the company sold $5,600,000 ... (Read 61 times)

anjilletteb

  • Hero Member
  • *****
  • Posts: 569
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by anjilletteb on Mar 6, 2021

momo1250

  • Sr. Member
  • ****
  • Posts: 338
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 29% of students answer this correctly


anjilletteb

  • Member
  • Posts: 569
Reply 2 on: Mar 6, 2021
Wow, this really help

debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

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
Parts of the Hand Used in Palpation; Palmar Surface Parts of the Hand Used in Palpation; Palmar Surface
Parts of the Hand Used in Palpation; Ulnar Surface Parts of the Hand Used in Palpation; Ulnar Surface
U.S. Life Expectancy by Year of Birth U.S. Life Expectancy by Year of Birth
How to choose the correct u and dv when you integrate by parts How to choose the correct u and dv when you integrate by parts
Estimated number of new HIV infections per year over time period in Canada Estimated number of new HIV infections per year over time period in Canada
Video: Glomerubular filtrate rate -pressures that affect GFR and net filtration pressure

For a complete list of videos, visit our video library