A/P R/E $253 Cash RM WIP FG МОН PP&E Beg $39 $89 $14 $19 $120 $28 a. b. с. d. е. f. g. h. i. j. k. End 19 The amount of underapplied or overapplied overhead closed entirely to Cost of Goods Sold (transaction k) was: А. $8 В. $18 C. $24 D. $29 Е. $1 20 The ending balance in Finished Goods Inventory was: A. $1 В. $24 C. $25 D. $43 Е. None of the above. Page 12 of 12
A/P R/E $253 Cash RM WIP FG МОН PP&E Beg $39 $89 $14 $19 $120 $28 a. b. с. d. е. f. g. h. i. j. k. End 19 The amount of underapplied or overapplied overhead closed entirely to Cost of Goods Sold (transaction k) was: А. $8 В. $18 C. $24 D. $29 Е. $1 20 The ending balance in Finished Goods Inventory was: A. $1 В. $24 C. $25 D. $43 Е. None of the above. Page 12 of 12
Chapter10: Financial Statements And Reports
Section: Chapter Questions
Problem 3.3C
Related questions
Question
Transcribed Image Text:A/P R/E
$253
Cash
RM
WIP
FG
МОН
PP&E
Beg
$39
$89
$14
$19
$120
$28
a.
b.
с.
d.
е.
f.
g.
h.
i.
j.
k.
End
19 The amount of underapplied or overapplied overhead closed entirely to Cost of Goods Sold (transaction k) was:
А.
$8
В.
$18
C.
$24
D.
$29
Е.
$1
20 The ending balance in Finished Goods Inventory was:
A.
$1
В.
$24
C.
$25
D.
$43
Е.
None of the above.
Page 12 of 12
Transcribed Image Text:PDF Practice midterm 1 Spring 2022. X
O File | C:/Users/chris/Favorites/Downloads/ACC%203200%20SPRING/Practice%20midterm%201%20Spring%202022.pdf
of 12
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D Page view
A Read aloud
T Add text
V Draw
E Highlight
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12
с.
Salaries & wages paid in cash (70% direct; 20% indirect; 10% selling & admin)
2$
50
d.
Depreciation on PP&E (90% manufacturing; the remainder selling & admin)
2$
60
Factory utility expenses paid on account
$
34
е.
Advertising expenses paid in cash
Manufacturing overhead applied to production
f.
18
g.
105
h.
Cost of goods manufactured
24
204
i.
Cash sales to customers
$
375
Cost of goods sold (unadjusted)
2$
j.
k. Underapplied or overapplied overhead closed entirely to Cost of Goods Sold
180
To answer the following two questions, enter the numbers relevant for each calculation into the table below using positive
numbers to designate increases to an account balance and negative numbers to designate decreases.
Cash
RM
WIP
FG
МОН
PP&E
АР
R/E
Beg
$39
$89
$14
$19
$120
$28
$253
b.
с.
d.
e.
f.
g.
h.
i.
j.
k.
End
19 The amount of underapplied or overapplied overhead closed entirely to Cost of Goods Sold (transaction k) was:
А.
$8
В.
$18
C.
$24
D.
$29
Е.
$1
20 The ending balance in Finished Goods Inventory was:
A.
$1
В.
$24
С.
$25
D.
$43
E.
None of the above.
Page 12 of 12
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