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 materials | 2,000 |
| Direct labour | 75,000 |
| Manufacturing overhead incurred | 95,000 |
| Cost of goods completed | 226,750 |
| Cost of goods sold | 138,000 |
| Beginning raw materials inventory | 15,000 |
| Beginning work in process inventory | 32,000 |
| Beginning finished goods inventory | 31,000 |
| Manufacturing overhead allocation rate (based on direct labour) | 125% |
At Lorelei Corporation the journal entry to transfer completed goods to the finished goods inventory account would include a
◦ debit to finished goods inventory for $227,875.
◦ debit to work in process inventory for $226,750.
◦ credit to work in process inventory for $227,875.
◦ debit to finished goods for $226,750.
Apple Corporation, Macintosh computer, Cupertino, California.
Selected Specialty Supplements
Selected Calcium Salts
Selected Corticosteroids
Selected Drugs for Helminth and Protozoan Infections
data