Black Company uses a job costing system and had the following data available for 2012 Materials purchased on account Materials requisitioned (includes $23,000 of indirect material) Manufacturing labour incurred (80% direct and 20% indirect) Other manufacturing overhead incurred Manufacturing overhead applied (as a % of direct labour cost) Cost of goods completed Cost of goods sold $250,000 283,000 343,750 120,000 60% 750,000 780,000 The journal entry to record the manufacturing overhead applied for 2012 is? O a. Dr. WIP $213,000 and Cr. Manufacturing overhead $213,000 Ob. Dr. COGS $213,000 and Cr. Manufacturing Overhead $213,000 Oc Dr. WIP $165,000 and Cr. Manufacturing Overhead $165,000 Od. Dr. Manufacturing overhead $165,000 and Cr. WIP $165,000
Black Company uses a job costing system and had the following data available for 2012 Materials purchased on account Materials requisitioned (includes $23,000 of indirect material) Manufacturing labour incurred (80% direct and 20% indirect) Other manufacturing overhead incurred Manufacturing overhead applied (as a % of direct labour cost) Cost of goods completed Cost of goods sold $250,000 283,000 343,750 120,000 60% 750,000 780,000 The journal entry to record the manufacturing overhead applied for 2012 is? O a. Dr. WIP $213,000 and Cr. Manufacturing overhead $213,000 Ob. Dr. COGS $213,000 and Cr. Manufacturing Overhead $213,000 Oc Dr. WIP $165,000 and Cr. Manufacturing Overhead $165,000 Od. Dr. Manufacturing overhead $165,000 and Cr. WIP $165,000
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Black Company uses a job costing system and had the following data available for 2012
$250,000
Materials purchased on account
Materials requisitioned (includes $23,000 of indirect material)
Manufacturing labour incurred (80% direct and 20% indirect)
Other manufacturing overhead incurred
Manufacturing overhead applied (as a % of direct labour cost)
Cost of goods completed
Cost of goods sold
283,000
343,750
120,000
60%
750,000
780,000
The journal entry to record the manufacturing overhead applied for 2012 is?
O a Dr. WIP $213,000 and Cr. Manufacturing overhead $213,000
Ob Dr COGS $213,000 and Cr. Manufacturing Overhead $213 000
Oc.
Dr. WIP $165,000 and Cr. Manufacturing Overhead $165.00
Od. Dr Manufacturing overhead $165,000 and Cr. WIP $165.000
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