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Home Q & A Board Other Fields Homework Help Business Accounting
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bernie2981 bernie2981
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8 years ago
Here is some basic data for Honey Dukes Corporation:

Beginning raw materials inventory   $37,000    Beginning work in process inventory    68,000
Beginning finished goods inventory    59,000    Cost of materials purchased   188,000
Cost of direct materials requisitioned    87,000    Direct labor incurred    195,000
Actual manufacturing overhead    195,000    Completed goods   287,000
Cost of goods sold
   255,000    Manufacturing overhead rate ( % of direct labor)    125%

The journal entry to record the cost of jobs sold would include a
A) debit to Finished Goods Inventory account for $255,000.
B) debit to Cost of Goods Sold account for $287,000.
C) credit to Finished Goods Inventory account for $287,000.
D) credit to Finished Goods Inventory account for $255,000.
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Managerial Accounting

Managerial Accounting


Edition: 4th
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nucleinuclei
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8 years ago
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bernie2981 Author
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#2
8 years ago
Wow! Thank you
goetomo
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