28 eBook Required: Superior Corporation applies manufacturing overhead to production at 55% of direct labor cost. During the year ended 20xx, manufacturing overhead of $109,395 was applied to production; actual manufacturing overhead was $156,700. Ending Work in Process Inventory was $21,735, and ending Finished Goods Inventory was $32,010. Work in Process Inventory increased by 15% during the year and Finished Goods Inventory increased by 10% during the year. Unadjusted Cost of Goods Sold was $573,700. Complete the following schedule: (Hint: Begin with unadjusted cost of goods sold and work forward and then backward.) Item Direct Materials Used in Production Direct Labor Manufacturing Overhead Applied Total current manufacturing costs + Beginning work in process inventory - Ending work in process inventory Cost of Goods Manufactured + Beginning work in process inventory - Ending work in process inventory Unadjusted cost of goods sold Under(over)applied overhead adjustment Adjusted cost of goods sold Amount 0

Required: Required: Superior Corporation applies manufacturing overhead to production at 55x of direct labor cost During the year ended 20xx, manufacturing overhead of $109.395 was applied to production; actual manufacturing overhead was $156.700. Endirig Work in Process Inventory was $21,735, and ending Finished Goods Inventory was $32,010. Work in Process inventory increased by 15% during the year and Finlshed Goods Inventory increased by 10% during the year. Unadjusted Cost of Goods $ old was $573700 Complete the following schedufe: (Hant Begin with unadjusted cost of goods sold and work forward and then backward)