Egerton,Inc

question 48

Essay

Egerton,Inc.has two processes-Coloring Department and Mixing Department.Egerton sold 350 gallons on account at $110 per gallon.The total cost of processing was $385,000 for 5,500 gallons of paint.Throughout the year,the company used a predetermined overhead allocation rate to allocate $75,000 and $65,000 of indirect costs to the Coloring Department and Mixing Department,respectively.The actual overhead cost incurred amounted to $150,000 at the end of the year.Record the necessary journal entries for the sale of goods and for adjustment of over- or underallocated manufacturing overhead at the end of the year.

---

Definitions:

Neonates

Refers to newborns, typically less than four weeks old.

Cephalocaudal Development

A pattern of growth in which development proceeds from the head downwards through the body, influencing motor skills and physical maturation.

Infants

Very young children, typically under one year of age, who are in the earliest stage of human development.

Arms

Limbs attached at the shoulder on the human body, primarily used for manual tasks and movement.