The Dina Corp.has applied overhead to jobs during the period as follows:
$$\begin{array} { l r }
\text { Jobs finished and sold } & \$ 46,000 \
\text { Jobs started and in process } & 54,000 \
\text { Jobs finished and unsold } & 100,000
\end{array}$$

The application of overhead has resulted in a $5,600 credit balance in the Factory Overhead account,and this amount is not material.The entry to dispose of this remaining factory overhead balance is:
A.
$\begin{array}{llr}
\text {Cost of Goods Sold } &5,600\
\text { Factory Overhead } &&5,600\
\end{array}$

B.
$\begin{array}{llr}
\text { Factory Overhead } &5,600\
\text { Cost of Goods Sold} &&5,600\
\end{array}$

C.
$\begin{array}{llr}
\text { Factory Overhead } &5,600\
\text {Goods in Process } &&5,600\
\end{array}$

D.
$\begin{array}{llr}
\text { Goods in Process } &5,600\
\text { Factory Overhead } &&5,600\
\end{array}$

E.$\text { No entry is needed.}$

Question

The Dina Corp.has applied overhead to jobs during the period as follows:
$$\begin{array} { l r } 
\text { Jobs finished and sold } & \$ 46,000 \
\text { Jobs started and in process } & 54,000 \
\text { Jobs finished and unsold } & 100,000
\end{array}$$

The application of overhead has resulted in a $5,600 credit balance in the Factory Overhead account,and this amount is not material.The entry to dispose of this remaining factory overhead balance is:
A. 
$\begin{array}{llr}
  \text {Cost of Goods Sold  } &5,600\
 \text { Factory Overhead } &&5,600\
\end{array}$

B. 
$\begin{array}{llr}
  \text {  Factory Overhead } &5,600\
 \text {  Cost of Goods Sold} &&5,600\
\end{array}$

C.
$\begin{array}{llr}
  \text {  Factory Overhead } &5,600\
 \text {Goods in Process  } &&5,600\
\end{array}$

D.
$\begin{array}{llr}
  \text { Goods in Process } &5,600\
 \text { Factory Overhead  } &&5,600\
\end{array}$
 
E.$\text { No entry is needed.}$

Quizplus · Accepted Answer

The Answer of The Dina Corp.has applied overhead to jobs during the period as follows:
$$\begin{array} { l r } 
\text { Jobs finished and sold } & \$ 46,000 \
\text { Jobs started and in process } & 54,000 \
\text { Jobs finished and unsold } & 100,000
\end{array}$$

The application of overhead has resulted in a $5,600 credit balance in the Factory Overhead account,and this amount is not material.The entry to dispose of this remaining factory overhead balance is:
A. 
$\begin{array}{llr}
  \text {Cost of Goods Sold  } &5,600\
 \text { Factory Overhead } &&5,600\
\end{array}$

B. 
$\begin{array}{llr}
  \text {  Factory Overhead } &5,600\
 \text {  Cost of Goods Sold} &&5,600\
\end{array}$

C.
$\begin{array}{llr}
  \text {  Factory Overhead } &5,600\
 \text {Goods in Process  } &&5,600\
\end{array}$

D.
$\begin{array}{llr}
  \text { Goods in Process } &5,600\
 \text { Factory Overhead  } &&5,600\
\end{array}$
 
E.$\text { No entry is needed.}$

The Dina Corp The Application of Overhead Has Resulted in a $5,600 Credit