Question
Can you please help I am struggling with GB519 Managerial Accounting Wiley Lab Problem 4-32 (f). The overapplied overhead is $323,628 USD The unadjusted cost
Can you please help I am struggling with GB519 Managerial Accounting Wiley Lab Problem 4-32 (f).
The overapplied overhead is $323,628 USD
The unadjusted cost are:
WIP $92,753
COGS is $3,650,000
Finished Goods Inventory $2,080,000
First I have tried to apply the relative contributions (let me know if I can send you sample douments and an attached Excel file) of the unadjusted three elements (WIP, FG, COGS) as a percentage of their total value and multiplied these values against the 'overapplied' overhead to get their relative cash equivalents.
Secondly I then subtracted the values obtained from the unadjusted WIP, FG, COGS to obtain what I thought were the adjusted WIP, FG, COGS values.
I apparently doing something wrong because my answer is incorrect.
Please you please help and advise me by directing me to some examples of how I can do this part of the exercise so that I can clearly see what I am doing wrong, thank you in advance.
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