Here is selected data for Betty Boo Corporation:Cost of raw material purchased$77,900Cost of requisitioned direct materials$43,600Cost of requisitioned indirect materials$3900Direct labor$80,100Manufacturing overhead incurred$100,400Cost of goods completed$233,900Cost of goods sold$142,500Beginning raw materials inventory$17,400Beginning work in process inventory$32,500Beginning finished goods inventory$35,200Manufacturing overhead allocation rate (based on direct labor)130%The journal entry to transfer completed goods to the finished goods inventory account would include a Question 38 options: debit to Finished Goods Inventory account for $238,100. debit to Finished Goods account for $233,900. debit to Work-in-Process Inventory account for $233,900. credit to Work-in-Process Inventory account for $238,100.

Solution: Cost of goods manufactured / completed = $233,900 The journal entry to transfer completed…

Answered: Here is selected data for Betty Boo…

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

Related questions

Question

Here is selected data for Betty Boo Corporation:

Cost of raw material purchased	$77,900
Cost of requisitioned direct materials	$43,600
Cost of requisitioned indirect materials	$3900
Direct labor	$80,100
Manufacturing overhead incurred	$100,400
Cost of goods completed	$233,900
Cost of goods sold	$142,500
Beginning raw materials inventory	$17,400
Beginning work in process inventory	$32,500
Beginning finished goods inventory	$35,200
Manufacturing overhead allocation rate (based on direct labor)	130%

The journal entry to transfer completed goods to the finished goods inventory account would include a

Question 38 options:

	debit to Finished Goods Inventory account for $238,100.
	debit to Finished Goods account for $233,900.
	debit to Work-in-Process Inventory account for $233,900.
	credit to Work-in-Process Inventory account for $238,100.