Lenci Inc Has Provided the Following Data for the Month of of May

question 145

Multiple Choice

Lenci Inc. has provided the following data for the month of May. 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 $3,000.
The company 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 overhead applied during the month in those accounts.

-The journal entry to record the allocation of any underapplied or overapplied manufacturing overhead for May would include the following:

• A)debit to Cost of Goods Sold of $340,580
• B)credit to Cost of Goods Sold of $2,580
• C)credit to Cost of Goods Sold of $340,580
• D)debit to Cost of Goods Sold of $2,580

Recognize how retailers use information and communication strategies to engage customers.

Knowledge of financial metrics and indicators used in retail to measure performance and growth.

Understand the retail life cycle and the wheel of retailing and how retail outlets evolve over time.

Describe the different stages of the retail life cycle and characteristics associated with each stage.

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Definitions:

Sexual Desire Disorders

A subset of sexual dysfunction characterized by a decrease or absence of sexual fantasies and desire for sexual activity.

Sexual Dysfunctions

Disturbances in sexual desire and in the psychophysiological changes that characterize the sexual response cycle, causing distress and interpersonal difficulty.

Frotteurism

A paraphilic interest focusing on rubbing, usually one's pelvic area or erect penis, against a non-consenting person for sexual gratification.

Voyeurism

A sexual interest or practice of spying on people engaged in intimate behaviors, such as undressing, sexual activity, or other actions considered to be private.