At the end of 2018, Furry Balls Co. Had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control: P20,000 dr. Cost of goods sold 384,000 dr. Finished goods 96,000 dr. Work in process 160,000 dr. Raw materials 160,000 dr. Case 1: Any under -or over-applied overhead is considered immaterial. 20. What is the adjusted balance cost of goods sold after disposing the under-or overapplied overhead? a. 364,000 b. 372,000 c. 396,000 d. 404,000 21. What is the adjusted balance of finished goods inventory after disposing the under-or over-applied overhead? a. 93,000 b. 96,000 c. 99,000 d. 102,000 22. What is the adjusted balance of work in process inventory after disposing the under-or over-applied overhead? a. 155,000 b. 160,000 c. 165,000 d. 170,000

At the end of 2018, Furry Balls Co. Had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control: P20,000 dr. Cost of goods sold 384,000 dr. Finished goods 96,000 dr. Work in process 160,000 dr. Raw materials 160,000 dr. Case 1: Any under -or over-applied overhead is considered immaterial. 20. What is the adjusted balance cost of goods sold after disposing the under-or overapplied overhead? a. 364,000 b. 372,000 c. 396,000 d. 404,000 21. What is the adjusted balance of finished goods inventory after disposing the under-or over-applied overhead? a. 93,000 b. 96,000 c. 99,000 d. 102,000 22. What is the adjusted balance of work in process inventory after disposing the under-or over-applied overhead? a. 155,000 b. 160,000 c. 165,000 d. 170,000

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 18E: Housley Paints Co. had a remaining debit balance of $25,000 in its under- and overapplied factory...

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Housley Paints Co. had a remaining debit balance of $25,000 in its under- and overapplied factory overhead account at year-end. The balance was deemed to be large and, therefore, should be closed to Work in Process, Finished Goods, and Cost of Goods Sold. The year-end balances of these accounts, before adjustment, showed the following: Determine the prorated amount of the underapplied factory overhead that is chargeable to each of the accounts. Prepare the journal entry to close the debit balance in Under-and Overapplied Factory Overhead.
At the end of 2018, Furry Balls Co. Had the following account balances after factory overheadhad been closed to manufacturing overhead control:Manufacturing overhead control: P20,000 cr.Cost of goods sold 384,000 dr.Finished goods 96,000 dr.Work in process 160,000 dr.Raw materials 160,000 dr.Case 1: Any under -or over-applied overhead is considered immaterial. a. What is the adjusted balance cost of goods sold after disposing the under-or overapplied overhead?b. What is the adjusted balance of work in process inventory after disposing the under -orover-applied overhead?c. What is the adjusted balance of finished goods inventory after disposing the under-orover-applied overhead? d. What is the adjusted balance of work in process inventory after disposing the under-orover-applied overhead?
At the end of 2018, Furry Balls Co. Had the following account balances after factory overheadhad been closed to manufacturing overhead control: Manufacturing overhead control: P20,000 cr.Cost of goods sold 384,000 dr.Finished goods 96,000 dr.Work in process 160,000 dr.Raw materials 160,000 dr.Case 1: Any under -or overapplied overhead is considered immaterial. 1 What is the adjusted balance cost of goods sold after disposing of the under-or over-applied overhead?a. 364,000 b. 372,000 c. 396,000 d. 404,000 2. What is the adjusted balance of finished goods inventory after disposing of the under-or over-applied overhead?a. 93,000 b. 96,000 c. 99,000 d. 102,000 3. What is the adjusted balance of work in process inventory after disposing of the under-or over-applied overhead?a. 155,000 b. 160,000 c. 165,000 d. 170,000
At the end of 2018, Furry Balls Co. Had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control: P20,000 cr. Cost of goods sold 384,000 dr. Finished goods 96,000 dr. Work in process 160,000 dr. Raw materials 160,000 dr. Case 1: Any under -or over-applied overhead is considered immaterial. 17. What is the adjusted balance of cost of goods sold after disposing the under -or overapplied overhead? a. 364,000 b. 372,000 c. 396,000 d. 404,000 18. What is the adjusted balance of finished goods inventory after disposing the under-or over-applied overhead? a. 93,000 b. 96,000 c. 99,000 d. 102,000 19. What is the adjusted balance of work in process inventory after disposing the under -or over-applied overhead? a. 155,000 b. 160,000 c. 165,000 d. 170,000 20. What is the adjusted balance cost of goods sold after disposing the under-or overapplied overhead? a. 364,000 b. 372,000 c. 396,000 d. 404,000 21. What is the…
At the end of 2018, Furry Balls Co. Had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control: P20,000 cr. Cost of goods sold 384,000 dr. Finished goods 96,000 dr. Work in process 160,000 dr. Raw materials 160,000 dr. Case 2: Any under-or over-applied overhead is considered material 14. What is the adjusted balance of cost of goods sold after disposing the under -or overapplied overhead? a. 364,000 b. 372,000 c. 396,000 d. 404,000 15. What is the adjusted balance of finished goods inventory after disposing the under-or over-applied overhead? a. 93,000 b. 96,000 c. 99,000 d. 102,000 16. What is the adjusted balance of work in process inventory after disposing the under-or over-applied overhead? a. 155,000 b. 160,000 c. 165,000 d. 170,000
At the end of 2018, Furry Balls Co. had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control P20,000 dr. Cost of goods sold 384,000 dr. Finished goods 96,000 dr. Work in process 160,000 dr. Raw materials 160,000 dr. Any under-or over-applied overhead is considered material What is the adjusted balance of cost of goods sold after disposing the under -or over-applied overhead?
At the end of 2018, Furry Balls Co. had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control, P20,000 dr. Cost of goods sold, P384,000 dr. Finished goods, P96,000 dr. Work in process, P160,000 dr. Raw materials, P160,000 dr. Case 1: any under- or over- applied overhead is considered material. What is the adjusted balance of work in process inventory after disposing the under- or over-applied overhead?
At the end of 2018, Furry Balls Co. had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control, P20,000 Dr. Cost of goods sold, P384,000 Dr. Finished goods, P96,000 Dr. Work in process, P160,000 Dr. Raw Materials, P160,000 Dr. Case 1: any under- or over- applied overhead is considered material. What is the adjusted balance of cost of goods sold after disposing the under -or over-applied overhead?
At the end of 2018, Furry Balls Co. had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control, P20,000 dr. Cost of goods sold, P384,000 dr. Finished goods, P96,000 dr. Work in process, P160,000 dr. Raw materials, P160,000 dr. Case 1: any under- or over-applied overhead is considered immaterial. What is the adjusted balance of work in process inventory after disposing of the under-or over-applied overhead?
At the end of 2018, Furry Balls Co. had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control, P20,000 dr. Cost of goods sold, P384,000 dr. Finished goods, P96,000 dr. Work in process, P160,000 dr. Raw materials, P160,000 dr. Case 1: any under- or over- applied overhead is considered immaterial. What is the adjusted balance of work in process inventory after disposing the under- or over-applied overhead?
At the end of 2018, Furry Balls Co. had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control, PP20,000 dr. Cost of goods sold, P384,000 dr. Finished goods, P96,000 dr. Work in process, P160,000 dr. Raw materials, P160,000 dr. Case 1: any under- or over-applied overhead is considered material. What is the adjusted balance of finished goods inventory after disposing of the under-or over-applied overhead?
At the end of 2018, Furry Balls Co. had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control, PP20,000 dr. Cost of goods sold, P384,000 dr. Finished goods, P96,000 dr. Work in process, P160,000 dr. Raw materials, P160,000 dr. Case 1: any under- or over- applied overhead is considered material. What is the adjusted balance of finished goods inventory after disposing the under-or over-applied overhead?