The Cherokee Company Uses a Predetermined Overhead Rate $\begin{array} { l }\text { Cost of Goods Sold } & \$ 12,000\\\text { Manufacturing Overhead }&\$12,000\end{array}$

question 127

Short Answer

The Cherokee Company uses a predetermined overhead rate. The following accounts have these unadjusted balances:
Raw Materials $20,000
Work in Process $40,000
Finished Goods $10,000
Cost of Goods Sold $50,000
If Manufacturing overhead was $12,000 overapplied and considered immaterial, what is the journal entry? a. $\begin{array} { l }\text { Cost of Goods Sold } & \$ 12,000\\\text { Manufacturing Overhead }&\$12,000\end{array}$

b. $\begin{array} { l }\text { Cost of Goods Sold } & \$ 12,000\\\text { Manufacturing Overhead }&\$12,000\end{array}$

$\text { c. Manufacturing Overhead } \$ 12,000$
Raw Materials $\$ 2,000$
Work in Frocess $\$ 4,000$
Finished Goods $\$ 1,000$
Cost of Goods Sold $\$ 5,000$

d. Raw Materials $\$ 2,000$
Work in Frocess $\$ 4,000$
Finished Goods $\$ 1,000$
Cost of Goods Sold $\$ 5,000$
Manufacturing Overhead $\$ 12,000$

e. Manufacturing Overhead $\$ 12,000$
Work in Process $\$ 4,800$
Finished Goods $\$ 1,200$
Cost of Goods Sold $\$ 6,000$

Comprehend the structure and function of short-term, long-term, and sensory storage in memory.

Recognize memory's imperfections and factors that influence memory failure or success.

Grasp how memory encoding, storage, and retrieval processes interact within the human brain.

Understand the theories related to memory such as filter theory and the three-part model of memory storage.

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