The Allen Company Has the Following Information for the Assembly

question 40

Multiple Choice

The Allen Company has the following information for the Assembly Department for the month of October: $\begin{array}{lr}\text { Materials purchased } & \$ 4,000 \\\text { Materials used } & 49,000 \\\text { Direct labor } & 30,000 \\\text { Actual manufacturing overhead } & 56,000 \\\text { Cost of goods completed and transferred to the Finishing Dept. } & 125,000\end{array}$ Overhead rate is 200 percent of direct labor costs. Allen Company uses a process costing system for the Assembly Department.
The journal entry to record goods completed and transferred out of the Assembly Department would include a

• A)debit to Finished Goods Inventory for $125,000.
• B)credit to Materials Inventory for $125,000.
• C)debit to Work in Process-Assembly Department for $125,000.
• D)debit to Work in Process-Finishing Department for $125,000.

Know how to add jobs to the Customers List and the implications of doing so.

Understand the recording behind QuickBooks screens when customer payments are received.

Comprehend the role of the Undeposited Funds account and its contents.

Distinguish between credit and cash sales and their recording methods in QuickBooks.

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Definitions:

Lockdown

A security protocol that restricts movement within a facility or area to ensure safety during emergencies or threats.

Classroom Doors

Physical barriers in educational settings, used for security, privacy, and noise control.

Building

The process of constructing structures or the physical structures themselves, usually for residential, commercial, or public use.

Emergency Guidelines

A set of instructions or procedures designed to be followed in emergency situations to protect health, ensure safety, or manage risks.