Fils Incorporated Has Provided the Following Data for the Month

question 268

Multiple Choice

Fils Incorporated has provided the following data for the month of March. 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 underapplied by $4,000.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 March would include the following:

• A) debit to Cost of Goods Sold of $3,080
• B) debit to Cost of Goods Sold of $149,410
• C) credit to Cost of Goods Sold of $3,080
• D) credit to Cost of Goods Sold of $149,410

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Definitions:

Intentional Tort

A civil wrong resulting from actions deliberately undertaken by one person intending to cause harm or injury to another.

Attorney Fees

Costs for legal services provided by a lawyer or law firm which a court may order the losing party to pay or that may be included in a settlement.

Compensatory Damages

Monetary compensation awarded to a plaintiff to compensate for actual losses or injuries suffered due to the defendant's actions.

Assault Victim

An individual who has suffered harm from an intentional act of physical violence or threat made against them.