Question
Jackson Company had $500,000 of overapplied factory overhead. This amount is considered material and the prorated approach is used. They had the following unadjusted balances
Jackson Company had $500,000 of overapplied factory overhead. This amount is considered material and the prorated approach is used. They had the following unadjusted balances at year-end:
WIP Ending Inventory $100,000
Finished Goods ending Inventory $600,000
COGS $8,300,000
How much will the adjusted ending balance of the COGS be after the proration?
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Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
10th edition
1133940595, 978-1133940593
