The Robinson Corporation manufactures automobile parts.During the year,the company sold $5,600,000 of parts that had a cost of $3,200,000.At year end,these are the balances for cost of goods sold and its manufacturing overhead accounts:
Cost of goods sold $3,200,000
Manufacturing overhead allocated $1,400,000
Manufacturing overhead control $1,495,000
What would be the correct journal entry to close out the overhead accounts assuming that the write-of to cost of goods sold approach is used?

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The Answer of The Robinson Corporation manufactures automobile parts.During the year,the company sold $5,600,000 of parts that had a cost of $3,200,000.At year end,these are the balances for cost of goods sold and its manufacturing overhead accounts:
Cost of goods sold $3,200,000
Manufacturing overhead allocated $1,400,000
Manufacturing overhead control $1,495,000
What would be the correct journal entry to close out the overhead accounts assuming that the write-of to cost of goods sold approach is used?

The Robinson Corporation Manufactures Automobile Parts