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

Question 151

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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 | r | } \hline \text { Direct materials placed in production } & \$ 83,000 \\ \hline \text { Direct labor incurred } & 190,000 \\ \hline \text { Manufacturing overhead incurred } & 300,000 \\ \hline \text { Manufacturing overhead allocated to production } & 295,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 753,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 442,300 \\ \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 $437,300 B) debit of $447,300 C) credit of $447,300 D) debit of $442,300 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 | r | } \hline \text { Direct materials placed in production } & \$ 83,000 \\ \hline \text { Direct labor incurred } & 190,000 \\ \hline \text { Manufacturing overhead incurred } & 300,000 \\ \hline \text { Manufacturing overhead allocated to production } & 295,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 753,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 442,300 \\ \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 $437,300 B) debit of $447,300 C) credit of $447,300 D) debit of $442,300 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 | r | } \hline \text { Direct materials placed in production } & \$ 83,000 \\ \hline \text { Direct labor incurred } & 190,000 \\ \hline \text { Manufacturing overhead incurred } & 300,000 \\ \hline \text { Manufacturing overhead allocated to production } & 295,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 753,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 442,300 \\ \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 $437,300 B) debit of $447,300 C) credit of $447,300 D) debit of $442,300 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 | r | } \hline \text { Direct materials placed in production } & \$ 83,000 \\ \hline \text { Direct labor incurred } & 190,000 \\ \hline \text { Manufacturing overhead incurred } & 300,000 \\ \hline \text { Manufacturing overhead allocated to production } & 295,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 753,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 442,300 \\ \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 $437,300 B) debit of $447,300 C) credit of $447,300 D) debit of $442,300 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 | r | } \hline \text { Direct materials placed in production } & \$ 83,000 \\ \hline \text { Direct labor incurred } & 190,000 \\ \hline \text { Manufacturing overhead incurred } & 300,000 \\ \hline \text { Manufacturing overhead allocated to production } & 295,000 \\ \hline \text { Cost of jobs completed and transferred } & 505,000 \\ \hline \text { Total revenue } & 753,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 442,300 \\ \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 $437,300 B) debit of $447,300 C) credit of $447,300 D) debit of $442,300 The following additional details are provided for the year:
 Direct materials placed in production $83,000 Direct labor incurred 190,000 Manufacturing overhead incurred 300,000 Manufacturing overhead allocated to production 295,000 Cost of jobs completed and transferred 505,000 Total revenue 753,000 Cost of goods sold (before adjustment)  442,300\begin{array} { | l | r | } \hline \text { Direct materials placed in production } & \$ 83,000 \\\hline \text { Direct labor incurred } & 190,000 \\\hline \text { Manufacturing overhead incurred } & 300,000 \\\hline \text { Manufacturing overhead allocated to production } & 295,000 \\\hline \text { Cost of jobs completed and transferred } & 505,000 \\\hline \text { Total revenue } & 753,000 \\\hline \text { Cost of goods sold (before adjustment) } & 442,300 \\\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 $437,300
B) debit of $447,300
C) credit of $447,300
D) debit of $442,300

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