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 74 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
:D TYSM

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Relative Energy Consumption per Person for Selected Countries Relative Energy Consumption per Person for Selected Countries
Selected Nonsteroidal Anti-Inflammatory Drugs Selected Nonsteroidal Anti-Inflammatory Drugs
Selected Corticosteroids for Severe Inflammation Selected Corticosteroids for Severe Inflammation
Selected Drugs for Helminth and Protozoan Infections Selected Drugs for Helminth and Protozoan Infections
data data
The following information relates to the Cutting Department of Kittina Corporation for the ... The following information relates to the Cutting Department of Kittina Corporation for the ...
Video: Glucagon (glycogenolysis and gluconeogenesis)

For a complete list of videos, visit our video library