At the end of 2013, Harbin Toys had the following balances in its accounts $$\begin{array} { l r }
\text { Raw Materials Inventory } & \$ 12,000 \
\text { Work in Process Inventory } & 30,000 \
\text { Finished Goods Inventory } & 48,000 \
\text { Cost of Goods Sold } & 360,000 \
\text { Manufacturing Overhead (credit) } & 3,200
\end{array}$$ Assuming the amount in Manufacturing Overhead is considered immaterial, which of the following accounts will be credited for $3,200 in eliminating the Manufacturing Overhead?

Question

At the end of 2013, Harbin Toys had the following balances in its accounts $$\begin{array} { l r } 
\text { Raw Materials Inventory } & \$ 12,000 \
\text { Work in Process Inventory } & 30,000 \
\text { Finished Goods Inventory } & 48,000 \
\text { Cost of Goods Sold } & 360,000 \
\text { Manufacturing Overhead (credit) } & 3,200
\end{array}$$ Assuming the amount in Manufacturing Overhead is considered immaterial, which of the following accounts will be credited for $3,200 in eliminating the Manufacturing Overhead?

Quizplus · Accepted Answer

The Answer of At the end of 2013, Harbin Toys had the following balances in its accounts $$\begin{array} { l r } 
\text { Raw Materials Inventory } & \$ 12,000 \
\text { Work in Process Inventory } & 30,000 \
\text { Finished Goods Inventory } & 48,000 \
\text { Cost of Goods Sold } & 360,000 \
\text { Manufacturing Overhead (credit) } & 3,200
\end{array}$$ Assuming the amount in Manufacturing Overhead is considered immaterial, which of the following accounts will be credited for $3,200 in eliminating the Manufacturing Overhead?

At the End of 2013, Harbin Toys Had the Following