Fils IncHas Provided the Following Data for the Month of March

question 232

Multiple Choice

Fils Inc.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:

Bell-Shaped

Describes the graphical shape of a distribution that is symmetrical and has a single peak in the middle, resembling a bell; commonly associated with the normal distribution.

Standard Deviation

An index quantifying the spread or variability among a collection of numbers, where a smaller standard deviation suggests the numbers are closely clustered around the average.

Tchebysheff's Theorem

A statistical theorem stating that, for any real-valued random variable, the proportion of values lying within k standard deviations from the mean is at least 1-1/k^2, for k > 1.

Empirical Rule

A statistical guideline suggesting that within a normal distribution, nearly every data point can be found within three standard deviations of the central mean.