Black Company uses a job costing system and had the following data available for 2021Materials purchased on accountMaterials requisitioned (includes $23,000 of indirect material)Manufacturing labour incurred (80% direct and 20% indirect)Other manufacturing overhead incurredManufacturing overhead applied (as a % of direct labour cost)Cost of goods completedCost of goods soldThe journal entry to dispose of the manufacturing overhead variance is:$250,000283,000343,750120,00060%750,000780,000a.Debit Cost of Goods Sold $45,000; Credit Manufacturing Overhead $45,000O b. Debit Cost of Goods Sold $46,750; Credit Manufacturing Overhead $46,750O c. Debit Manufacturing Overhead $46,750; Credit Cost of Goods Sold $46,750O d. Debit Manufacturing Overhead $45,000; Credit Cost of Goods Sold $45,000

Name: Black Company uses a job costing system and had the following data av
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Description: Black Company uses a job costing system and had the following data available for 2021Materials purchased on accountMaterials requisitioned (includes $23,000 of indirect material)Manufacturing labour incurred (80% direct and 20% indirect)Other manufa

The manufacturing overhead variance is the difference between the actual overhead and applied…

Answered: ed (as a % of direct labour cost)…

Business

Accounting

ed (as a % of direct labour cost) manufacturing overhead variance is: $45,000; Credit Manufacturing Overhead S $46,750; Credit Manufacturing Overhead S chead $45 750 750 780 Cont Sold S

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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