Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. donuts inc. has provided the following data for th

Donuts Inc. has provided the following data for the month of July. There were no...

70.2K

Verified Solution

Question

Accounting

Donuts Inc. has provided the following data for the month of July. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. image Manufacturing overhead for the month was overapplied by $2,000. 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 July would include the following:

Select one:

a. debit to Finished Goods of $33,090

b. debit to Finished Goods of $300

c. credit to Finished Goods of $33,090

d. credit to Finished Goods of $300

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students