Seuell Incorporated Has Provided the Following Data for the Month

question 261

Multiple Choice

Seuell Incorporated has provided the following data for the month of December. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Manufacturing overhead for the month was overapplied by $12,000.The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts.The journal entry to record the allocation of any underapplied or overapplied manufacturing overhead for December would include the following:

• A) debit to Finished Goods of $56,160
• B) credit to Finished Goods of $56,160
• C) debit to Finished Goods of $2,520
• D) credit to Finished Goods of $2,520

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Definitions:

Node of Ranvier

Gaps in the myelin sheath of nerve fibers where the axonal membrane is exposed, facilitating rapid signal conduction along the neuron.

Axon

The long extension of the neuron that transmits nerve impulses away from the cell body. Compare with dendrite.

Dendrite

A branched extension of a neuron that receives stimuli and conducts impulses toward the cell body.

Myelin Sheath

The fatty layer that surrounds and insulates the axons of some neurons, which enables faster transmission of electrical impulses.