Business, 08.03.2021 20:00 Erin1535

Harrington Industries, which uses a process-costing system, had a balance in its Work-in-Process account of $68,000 on January 1. The account was charged with direct materials, direct labor, and manufacturing overhead of $450,000 throughout the year. If a review of the accounting records determined that $86,000 of goods were still in production at year-end, Harrington should make a journal entry on December 31 that includes:. a) a debit to Cost of Goods Sold for $432,000.
b) a debit to Finished-Goods Inventory for $86,000.
c) a credit to Work-in-Process Inventory for $432,000.
d) a credit to Work-in-Process Inventory for $86,000.
e) a credit to Finished-Goods Inventory for $432,000.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 17:10

American gas products manufactures a device called a can-emitor that empties the contents of old aerosol cans in 2 to 3 seconds. this eliminates having to dispose of the cans as hazardous wastes. if a certain paint company can save $75,000 per year in waste disposal costs, how much could the company afford to spend now on the can-emitor if it wants to recover its investment in 3 years at an interest rate of 20% per year?

Answers: 1

Answer

Business, 22.06.2019 11:30

Mai and chuck have been divorced since 2012. they have three boys, ages 6, 8, and 10. all of the boys live with mai and she receives child support from chuck. mai and chuck both work and the boys need child care before and after school. te boys attend the fun house day care center and mai paid them $2,000 and chuck paid them $3,000. mai's agi is $18,000 and chuck's is $29,000. mai will claim two of the boys as dependents. she signed form 8332 which allows chuck to claim one of the boys. who can take the child and dependent care credit?

Answers: 3

Answer

Business, 22.06.2019 16:40

Determine the hrm’s role in the performance management process and explain how to ensure the process aligns with the organization’s strategic plan.

Answers: 1

Answer

Business, 22.06.2019 20:50

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold

Answers: 2

Answer

You know the right answer?

Harrington Industries, which uses a process-costing system, had a balance in its Work-in-Process acc...

Questions