MA Charged

question 68

Multiple Choice

M.A.E. charged the following amounts of overhead to jobs during the year: $20,000 to jobs still in process, $60,000 to jobs completed but not sold, and $120,000 to jobs finished and sold. At year-end, M.A.E. Company's Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should M.A.E. make at year-end?

• A) No entry is needed.
• B) Debit Factory Overhead $5,000; credit Cost of Goods Sold $5,000.
• C) Debit Cost of Goods Sold $5,000; credit Factory Overhead $5,000.
• D) Debit Factory Overhead $5,000; credit Goods in Process Inventory $5,000.
• E) Debit Factory Overhead $5,000; credit Finished Goods Inventory $5,000.

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Definitions:

Managing Diversity Programs

The coordination of activities and strategies to encourage diversity and inclusion within an organization's culture.

Organizational Flexibility

The ability of a company to adapt quickly to market changes or internal innovations, allowing for responsive and effective operations.

Organizational Loyalty

The degree of commitment an employee has towards their organization, often manifesting in hard work and advocacy for the company.

Part-Timers

Individuals who work for a fraction of the customary or standard full-time employment hours.