Light Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year:

Estimated total manufacturing overhead at the beginning of the year		$481,250
Estimated direct labor-hours at the beginning of the year		35,000	direct labor-hours

Results of operations:

Actual direct labor-hours		60,000	direct labor-hours
Manufacturing overhead:
Indirect material cost	$	199,000
Other manufacturing overhead costs incurred	$	445,000

Manufacturing overhead is overapplied or underapplied by: (Round your intermediate calculations to 2 decimal places.)

Bella Corporations cost of goods manufactured for the just completed month was $146,000 and its overhead was underapplied by $2,000. The beginning finished goods inventory was $35,000 and the ending finished goods inventory was $37,000. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. How much was the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?

Multiple Choice $181,000 Overapplied $94,000 Underapplied $181,000 Underapplied O $94,000 Overapplied