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At the Beginning of the Year,Springfield Manufacturing Had the Following

Question 122

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At the beginning of the year,Springfield Manufacturing had the following account balances: At the beginning of the year,Springfield Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 304,000 \\ \hline \text { Manufacturing overhead allocated to production } & 292,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 755,000 \\ \hline \text { Cost of goods sold } & 442,700 \\ \hline \end{array} After recording all these transactions and adjusting for the over/underallocated overhead,the ending balance in the Cost of Goods Sold account is a ________. A) debit of $430,700 B) debit of $454,700 C) credit of $454,700 D) debit of $442,700 At the beginning of the year,Springfield Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 304,000 \\ \hline \text { Manufacturing overhead allocated to production } & 292,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 755,000 \\ \hline \text { Cost of goods sold } & 442,700 \\ \hline \end{array} After recording all these transactions and adjusting for the over/underallocated overhead,the ending balance in the Cost of Goods Sold account is a ________. A) debit of $430,700 B) debit of $454,700 C) credit of $454,700 D) debit of $442,700 At the beginning of the year,Springfield Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 304,000 \\ \hline \text { Manufacturing overhead allocated to production } & 292,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 755,000 \\ \hline \text { Cost of goods sold } & 442,700 \\ \hline \end{array} After recording all these transactions and adjusting for the over/underallocated overhead,the ending balance in the Cost of Goods Sold account is a ________. A) debit of $430,700 B) debit of $454,700 C) credit of $454,700 D) debit of $442,700 At the beginning of the year,Springfield Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 304,000 \\ \hline \text { Manufacturing overhead allocated to production } & 292,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 755,000 \\ \hline \text { Cost of goods sold } & 442,700 \\ \hline \end{array} After recording all these transactions and adjusting for the over/underallocated overhead,the ending balance in the Cost of Goods Sold account is a ________. A) debit of $430,700 B) debit of $454,700 C) credit of $454,700 D) debit of $442,700 At the beginning of the year,Springfield Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 304,000 \\ \hline \text { Manufacturing overhead allocated to production } & 292,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 755,000 \\ \hline \text { Cost of goods sold } & 442,700 \\ \hline \end{array} After recording all these transactions and adjusting for the over/underallocated overhead,the ending balance in the Cost of Goods Sold account is a ________. A) debit of $430,700 B) debit of $454,700 C) credit of $454,700 D) debit of $442,700 The following additional details are provided for the year:
 Direct materials placed in production $80,000 Direct labor incurred 192,000 Manufacturing overhead incurred 304,000 Manufacturing overhead allocated to production 292,000 Cost of jobs completed and transferred 505,000 Total revenue 755,000 Cost of goods sold 442,700\begin{array} { | l | l } \hline \text { Direct materials placed in production } & \$ 80,000 \\\hline \text { Direct labor incurred } & 192,000 \\\hline \text { Manufacturing overhead incurred } & 304,000 \\\hline \text { Manufacturing overhead allocated to production } & 292,000 \\\hline \text { Cost of jobs completed and transferred } & 505,000 \\\hline \text { Total revenue } & 755,000 \\\hline \text { Cost of goods sold } & 442,700 \\\hline\end{array} After recording all these transactions and adjusting for the over/underallocated overhead,the ending balance in the Cost of Goods Sold account is a ________.


A) debit of $430,700
B) debit of $454,700
C) credit of $454,700
D) debit of $442,700

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