On June 1, Dalton Productions had beginning balances as shown in the T-accounts below

Raw Materials Inventory
10,000

Work-in-Process Inventory
20,000

Finished Goods Inventory
25,000

Manufacturing Overhead
41,000

During June, the following transactions took place:
June 2: Issued $2,200 of direct materials and $700 of indirect materials to production.

What was the balance in the Manufacturing Overhead account following this transaction?
A) $43,900
B) $43,200
C) $41,700
D) $41,000


C .C)
Beginning balance in Manufacturing OH $41,000
Add: Indirect materials transferred 700
Ending balance $41,700

Business

You might also like to view...

The gatekeeper is the individual in the business buying center who makes the eventual purchasing decision

Indicate whether the statement is true or false

Business

Positioning refers to consumers' perceptions about a product relative to competing products

Indicate whether the statement is true or false

Business

In a sales letter promoting its new hybrid vehicle, a car company included this sentence: Our new hybrid model will save you hundreds of dollars annually on gasoline expenses. The company is focusing on indirect benefits of purchasing this vehicle

Indicate whether the statement is true or false

Business

Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following information: Jan 1Beginning inventory1500 units @ $4.70Jan 12Purchase1600 units @ $4.50Jan 18Sales1700 units @ $6.20Jan 21Purchase1500 units @ $4.80Jan 25Purchase1300 units @ $4.60Jan 31Sales1650 units @ $6.20Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January 31?

A. $7500 B. $8005 C. $7725 D. $11,980

Business