At the End of the Year,Jenkins Corporation Had $120,000 in the Factory

question 66

Multiple Choice

At the end of the year,Jenkins Corporation had $120,000 in the Factory Overhead account and applied factory overhead of $100,000.Mark Gibbs,the controller,has decided that the difference is to large to close to Cost of Goods Sold.Work in process inventories were $30,000,finished goods inventories were $60,000 and cost of goods sold during the year was $210,000.How should the entry to dispose of the difference in overhead incurred and overhead applied affect Cost of Goods Sold?

• A)$14,000 credit.
• B)$14,000 debit.
• C)$6,000 credit.
• D)20,000 debit.

Identify the production technology based on input requirements.

Comprehend the quantitative relationships between inputs and outputs in production technology.

Analyze production possibilities and determine the marginal product of additional workers.

Understand the impact of capital costs on firms' choice of production techniques.

---

Definitions:

Subcutaneous Emphysema

The presence of air or gas in the subcutaneous layer of the skin, often as a result of injury or surgery, causing swelling and a crackling sensation.

Serous Drainage

Clear, watery fluid that sometimes drains from wounds and is a normal part of the healing process.

Ventricular Fibrillation

A life-threatening heart rhythm that results in a rapid, erratic beat, leading to poor blood circulation.

Cardiorespiratory Monitor

A device used to track the heart rate and breathing rate of a patient, often used in hospitals to monitor patients critically.