Multiple Choice
Sanker Inc. has provided the following data for the month of August. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. 
Manufacturing overhead for the month was overapplied by $5,000.
The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.
-The journal entry to record the allocation of any underapplied or overapplied overhead for August would include the following:
A) debit to Finished Goods of $34,880
B) debit to Finished Goods of $1,250
C) credit to Finished Goods of $34,880
D) credit to Finished Goods of $1,250
Correct Answer:
Verified
Correct Answer:
Verified
Q32: On July 1, Woolard Corporation had $20,000
Q33: Sanker Inc. has provided the following data
Q34: When closing overapplied manufacturing overhead to cost
Q35: Baken Corporation applies manufacturing overhead on the
Q36: The balance in White Company's Work in
Q38: At the beginning of October, Cozier Corporation
Q39: For the current year, Paxman Company incurred
Q40: The Work in Process inventory account of
Q41: Burkhammer Inc. has provided the following data
Q42: Ivory Company uses a job-order costing system.