At the end of the period, Massive Designs had the following debit balances in its accounts. Raw Materials Inventory $ 20,000 Work in Process Inventory 40,000 Finished Goods Inventory 60,000 Cost of Goods Sold 400,000 9,000 Manufacturing Overhead Assuming the amount in Manufacturing Overhead is considered material, the entry to allocate Manufacturing Overhead will include a O debit to Cost of Goods Sold for $6,400. debit to Cost of Goods Sold for $8,000. O debit to Cost of Goods sold for $6,154. O credit to Work in Process Inventory for $6,400. Odebit to Cost of Goods Sold for $7,200.
At the end of the period, Massive Designs had the following debit balances in its accounts. Raw Materials Inventory $ 20,000 Work in Process Inventory 40,000 Finished Goods Inventory 60,000 Cost of Goods Sold 400,000 9,000 Manufacturing Overhead Assuming the amount in Manufacturing Overhead is considered material, the entry to allocate Manufacturing Overhead will include a O debit to Cost of Goods Sold for $6,400. debit to Cost of Goods Sold for $8,000. O debit to Cost of Goods sold for $6,154. O credit to Work in Process Inventory for $6,400. Odebit to Cost of Goods Sold for $7,200.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:At the end of the period, Massive Designs had the following debit balances in its accounts.
Raw Materials Inventory
Work in Process Inventory
$ 20,000
40,000
Finished Goods Inventory
60,000
400,000
9,000
Cost of Goods Sold
Manufacturing Overhead
Assuming the amount in Manufacturing Overhead is considered material, the entry to allocate Manufacturing Overhead will include a
O debit to Cost of Goods Sold for $6,400.
O debit to Cost of Goods Sold for $8,000.
Odebit to Cost of Goods sold for $6,154.
O credit to Work in Process Inventory for $6,400.
Odebit to Cost of Goods Sold for $7,200.
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