Faucette Corporation has provided the following data concerning manufacturing overhead for January: Actual manufacturing overhead incurred$52,000Manufacturing overhead applied to Work-in-Process$75,000The company's Cost of Goods Sold was $369,000 prior to closing out its Manufacturing Overhead account. The company closes out its Manufacturing Overhead account to Cost of Goods Sold. Which of the following statements is true?
A. Manufacturing overhead was underapplied by $23,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $346,000.
B. Manufacturing overhead was overapplied by $23,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $346,000.
C. Manufacturing overhead was overapplied by $23,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $392,000.
D. Manufacturing overhead was underapplied by $23,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $392,000.
Answer: B
You might also like to view...
________ are general business sources of external secondary data that provide brief descriptions of companies, organizations, or individuals
A) Guides B) Indexes and bibliographies C) Directories D) Nongovernmental statistical data E) Standard Industrial Classification (SIC) codes
A ________ environment is one in which employees act in responsible ways, even when the law does not require it.
Fill in the blank(s) with the appropriate word(s).
The values, beliefs, and norms a group of people share are referred to as our:
a. morals. b. philosophy. c. culture. d. none of the above.
Answer the following statement(s) true (T) or false (F)
1. Hindrance stressors are positively related to motivation and performance. 2. Challenge Stressors are associated with workload, job demands, job complexity, and deadlines and are positively related to motivation and performance. 3. Eustress is a high level of stressors that have destructive and negative effects on effort and performance. 4. Stress is always negative.