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Spartans Inc has the following transactions: Work in Process Finished Goods Cost of Goods Sold Beg. +DM $30,200 Beg $26,500 Beg $0 $9,300 +Trans In. $63,400 +Sold $49,600 +DL $15,500 -Sold $49,600 Unadjust $49,600 +MOH $42,500 End $40,300 - Trans Out $63,400 End $34,100 MOH Control $42,500 Applied Actual $25,750 (a) Based on the t-accounts, the amount of overhead that was mis-allocated was $16,500 (difference between applied and actual). This amount will be Debited Overhead Control. V to Manufacturing (b) Use the Proration Method to allocate the $16,500 among the following accounts: Work in Process will be [Select] Finished Goods will be [Select] Cost of Goods Sold will be [Select] ✓ by [Select] [Select] by $16,750 $2,740 $4,606 $5,583 $3,410

Spartans Inc has the following transactions: Work in Process Finished Goods Cost of Goods Sold Beg. +DM $30,200 Beg $26,500 Beg $0 $9,300 +Trans In. $63,400 +Sold $49,600 +DL $15,500 -Sold $49,600 Unadjust $49,600 +MOH $42,500 End $40,300 - Trans Out $63,400 End $34,100 MOH Control $42,500 Applied Actual $25,750 (a) Based on the t-accounts, the amount of overhead that was mis-allocated was $16,500 (difference between applied and actual). This amount will be Debited Overhead Control. V to Manufacturing (b) Use the Proration Method to allocate the $16,500 among the following accounts: Work in Process will be [Select] Finished Goods will be [Select] Cost of Goods Sold will be [Select] ✓ by [Select] [Select] by $16,750 $2,740 $4,606 $5,583 $3,410

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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Spartans Inc has the following transactions: Work in Process Finished Goods Cost of Goods Sold Beg. + DM $30,200 Beg $26,500 Beg $0 $9,300 +Trans In. $63,400 +Sold $49,600 + DL $15,500 - Sold $49,600 Unadjust $49,600 + MOH $42,500 End $40,300 - Trans Out $63,400 End $34,100 MOH Control $42,500 Applied Actual $25,750 (a) Based on the t-accounts, the amount of overhead that was mis-allocated was $16,500 (difference between applied and actual). This amount will be Debited ✓ to Manufacturing Overhead Control. (b) Use the Proration Method to allocate the $16,500 among the following accounts: Work in Process will be [Select] Finished Goods will be [Select] Cost of Goods Sold will be [Select] by [Select] [Select] by $16,750 $2,740 $4,606 $5,583 $3,410
Transcribed Image Text:Spartans Inc has the following transactions: Work in Process Finished Goods Cost of Goods Sold Beg. + DM $30,200 Beg $26,500 Beg $0 $9,300 +Trans In. $63,400 +Sold $49,600 + DL $15,500 - Sold $49,600 Unadjust $49,600 + MOH $42,500 End $40,300 - Trans Out $63,400 End $34,100 MOH Control $42,500 Applied Actual $25,750 (a) Based on the t-accounts, the amount of overhead that was mis-allocated was $16,500 (difference between applied and actual). This amount will be Debited ✓ to Manufacturing Overhead Control. (b) Use the Proration Method to allocate the $16,500 among the following accounts: Work in Process will be [Select] Finished Goods will be [Select] Cost of Goods Sold will be [Select] by [Select] [Select] by $16,750 $2,740 $4,606 $5,583 $3,410
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