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Author Question: Moira Company has just finished its first year of operations and must decide which method to use for ... (Read 91 times)

Coya19@aol.com

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

braelync

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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.
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Coya19@aol.com

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Reply 2 on: Mar 6, 2021
YES! Correct, THANKS for helping me on my review

Animal_Goddess

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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