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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.

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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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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