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

Author Question: Moira Company has just finished its first year of operations and must decide which method to use for ... (Read 50 times)

Coya19@aol.com

  • Hero Member
  • *****
  • Posts: 601
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

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

braelync

  • Sr. Member
  • ****
  • Posts: 350
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 64% of students answer this correctly


Coya19@aol.com

  • Member
  • Posts: 601
Reply 2 on: Mar 6, 2021
Excellent

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar
(A) A 62-year-old patient with myxedema exhibiting marked edema of the face and a somnolent look. Th (A) A 62-year-old patient with myxedema exhibiting marked edema of the face and a somnolent look. Th
Microbial fermentation operations Microbial fermentation operations
Average Number of Days per Year with Thunderstorms Average Number of Days per Year with Thunderstorms
Generation of the F2 trihybrid phenotypic ratio using the forked-line method Generation of the F2 trihybrid phenotypic ratio using the forked-line method
Chinese new year 2023 Chinese new year 2023
Video: Virtual Enzyme Kinetics & Lineweaver Burk Plot

For a complete list of videos, visit our video library