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 64 times)

karateprodigy

  • Hero Member
  • *****
  • Posts: 550
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
◦ debit to manufacturing overhead for $1,450.
◦ credit to cost of goods sold for $1,250.
◦ debit to cost of goods sold for $1,250.
◦ debit to work in process inventory 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 karateprodigy on Jan 4, 2020

catron30

  • Sr. Member
  • ****
  • Posts: 297
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


karateprodigy

  • Member
  • Posts: 550
Reply 2 on: Jan 4, 2020
Thanks for the timely response, appreciate it

robbielu01

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Selected skeletal muscles and the Achilles tendon (anterior and posterior views). Selected skeletal muscles and the Achilles tendon (anterior and posterior views).
Selected Antiemetics Selected Antiemetics
Selected Minerals for Treating Nutritional and Electrolyte Disorders Selected Minerals for Treating Nutritional and Electrolyte Disorders
Selected Local Anesthetics Selected Local Anesthetics
Selected Monoclonal Antibodies for Immunosuppression Selected Monoclonal Antibodies for Immunosuppression
Selected Cancers with Inherited Predisposition Selected Cancers with Inherited Predisposition
Video: Import of Dietary Glucose from Intestines to Bloodstream

For a complete list of videos, visit our video library