Fils Incorporated has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.
Work In Process | Finished Goods | Cost of Goods Sold | Total | |
---|---|---|---|---|
Direct materials | $4,080 | $12,780 | $ 59,940 | $ 76,800 |
Direct labor | 2,110 | 11,360 | 53,280 | 66,750 |
Manufacturing overhead applied | 2,820 | 7,990 | 36,190 | 47,000 |
Total | $9,010 | $32,130 | $149,410 | $190,550 |
Manufacturing overhead for the month was underapplied by $4,000.
The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts.
The journal entry to record the allocation of any underapplied or overapplied manufacturing overhead for March would include the following:
Multiple Choice
debit to Cost of Goods Sold of $3,080
debit to Cost of Goods Sold of $149,410
credit to Cost of Goods Sold of $3,080
credit to Cost of Goods Sold of $149,410
Fils Incorporated has provided the following data for the month of March. There were no beginning...
Weatherhead Inc. has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In Process Finished Goods Cost of Goods Sold Total Direct materials $ 4,240 $ 14,740 $ 41,700 $ 60,680 Direct labor 10,080 29,480 83,880 123,440 Manufacturing overhead applied 5,860 11,200 35,060 52,120 Total $ 20,180 $ 55,420 $ 160,640 $ 236,240 Manufacturing overhead for...
Inc. has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In Process Finished Goods Cost of Goods Sold Total Direct materials $ 4,240 $ 14,720 $ 41,720 $ 60,680 Direct labor 10,120 29,440 83,840 123,400 Manufacturing overhead applied 5,830 11,290 34,980 52,100 Total $ 20,190 $ 55,450 $ 160,540 $ 236,180 Manufacturing overhead for the...
Weatherhead Inc. has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In Process Finished Goods Cost of Goods Sold Total Direct materials $ 4,240 $ 14,740 $ 41,820 $ 60,800 Direct labor 10,320 29,480 83,880 123,680 Manufacturing overhead applied 5,860 11,740 35,060 52,660 Total $ 20,420 $ 55,960 $ 160,760 $ 237,140 Manufacturing overhead for...
Weatherhead Inc. has provided the following data for the month of March. There were no beginning inventories, consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Direct materials Direct labor Manufacturing overhead applied Total Cost of Work In Finished Goods Process Goods Sold Total $ 4,240 $14,740 $ 41,820 $ 60,800 10,320 29,480 83,880 123,680 5,860 11,740 35,060 52,660 $20,420 $55,960 $160,760 $237, 140 Manufacturing overhead for the month was overapplied...
Weatherhead Inc. has provided the following data for the month of March. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In Process Finished Goods Cost of Goods Sold Total Direct materials $ 4,240 $ 14,720 $ 41,560 $ 60,520 Direct labor 9,800 29,440 83,840 123,080 Manufacturing overhead applied 5,830 10,570 34,980 51,380 Total $ 19,870 $ 54,730 $ 160,380 $ 234,980 Manufacturing overhead for...
Stangl Incorporated has provided the following data for the month of September. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In Process Finished Goods Cost of Goods Sold Total Direct materials $ 1,660 $ 7,590 $ 14,610 $ 23,860 Direct labor 5,460 17,850 34,590 57,900 Manufacturing overhead applied 4,238 9,780 18,582 32,600 Total $ 11,358 $ 35,220 $ 67,782 $ 114,360 Manufacturing overhead for...
Rieb Incorporated has provided the following data for the month of September. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Direct materials Direct labor Manufacturing overhead applied Total Work In Process $ 3,740 9,900 6,400 $ 20,040 Finished Goods $ 8,820 24,150 11,200 $ 44,170 Cost of Goods Sold $ 47,340 130,080 62,400 $ 239,820 Total $ 59,900 164,130 80,000 $ 304,030 Manufacturing overhead for...
Rieb Incorporated has provided the following data for the month of September. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In Process Finished Goods Cost of Goods Sold Total Direct materials $ 3,730 $ 8,810 $ 47,330 $ 59,870 Direct labor 9,890 24,140 130,070 164,100 Manufacturing overhead applied 6,360 11,130 62,010 79,500 Total $ 19,980 $ 44,080 $ 239,410 $ 303,470 Manufacturing overhead for...
Beshaw Inc. has provided the following data for the month of January. There were no beginning inventories, consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Direct materials Direct labor Manufacturing overhead applied Total Cost of Work In Finished Goods Process Goods Sold Total $ 3,440 $ 8,450 $ 61,880 $ 73, 770 6,160 16,250 119,000 141,410 3,300 6,050 45,650 55,000 $12,900 $30,750 $226,530 $270, 180 Manufacturing overhead for the month...
Castagnola Inc. has provided the following data for the month of January. There were no beginning inventories, consequently, th direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Direct materials Direct labor Manufacturing overhead applied Total Work In Process $ 880 4,100 2,460 $7,440 Cost of Goods Finished Goods Sold $ 5,500 $ 23,100 17,600 73,920 7,380 31,160 $30,480 $128, 180 Total $ 29,480 95,620 41,000 $166,100 Manufacturing overhead for the month was...