30 4 GR 7 8 9 10 11 12 13 14 15 16 17 18 19 20 e. Choice E QUESTION 11 Martin Corporation's January operations has the following information: Cost of goods manufactured $319,700 Finished goods, January 1st $10,850 Finished goods, January 31st $21,150 Manufacturing Overhead Applied $70,600 Manufacturing Overhead Incurred $62,750 Work-in-process, January 1st $30,500 Work-in-process, January 31st $22,150 What is the amount of adjusted cost of goods sold if misapplied overhead is immaterial in amount? QUESTION 12 An over application of overhead occurs when: actual overhead costs are less than budgeted overhead costs. b. a. 43