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

Author Question: The Robinson Corporation manufactures automobile parts. During the year, the company sold $5,600,000 ... (Read 24 times)

anjilletteb

  • Hero Member
  • *****
  • Posts: 569
on: Mar 6, 2021
The Robinson Corporation manufactures automobile parts. During the year, the company sold $5,600,000 of parts that had a cost of $3,200,000. At year end, these are the balances for cost of goods sold and its manufacturing overhead accounts:

Cost of goods sold $3,200,000
Manufacturing overhead allocated $1,400,000
Manufacturing overhead control $1,495,000

What would be the correct journal entry to close out the overhead accounts assuming that the write-of to cost of goods sold approach is used?
◦
Manufacturing overhead control $1,495,000
  Cost of goods sold  $95,000
  Manufacturing overhead allocated $1,400,000
◦
Sales $5,600,000
 Cost of goods sold  $3,200,000
 Gross profit $2,400,000
◦
Finished goods $95,000
Manufacturing overhead allocated  $1,400,000
   Manufacturing overhead control $1,495,000
◦
Cost of goods sold $95,000
Manufacturing overhead allocated  $1,400,000
   Manufacturing overhead control $1,495,000
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 anjilletteb on Mar 6, 2021

momo1250

  • Sr. Member
  • ****
  • Posts: 338
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 29% of students answer this correctly


anjilletteb

  • Member
  • Posts: 569
Reply 2 on: Mar 6, 2021
Thanks for the timely response, appreciate it

AISCAMPING

  • Member
  • Posts: 347
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

20,000 year old spotted hyena painting from the Chauvet Cave, France 20,000 year old spotted hyena painting from the Chauvet Cave, France
Parts of the Hand Used in Palpation; Palmar Surface Parts of the Hand Used in Palpation; Palmar Surface
The parts of a prescription include the superscription, inscription, sig., and subscription. The parts of a prescription include the superscription, inscription, sig., and subscription.
Helgeson Company has identified the following items for possible inclusion when taking a ... Helgeson Company has identified the following items for possible inclusion when taking a ...
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Appendicitis Animation

For a complete list of videos, visit our video library