Question
Maple Mount Fishery is a canning company in Astoria. The company uses a normal costing system in which factory overhead is applied on the basis
Maple Mount Fishery is a canning company in Astoria. The company uses a normal costing system in which factory overhead is applied on the basis of direct labor costs. Budgeted factory overhead for the year was $680,000, and management budgeted $352,000 of direct labor costs. During the year, the company incurred the following actual costs. Direct materials used $367,000 Direct labor 303,000 Factory overhead 658,000 The January 1 balances of inventory accounts are shown below. Materials all direct $62,500 Work-in-process 43,800 Finished goods 24,000 The December 31 balances of these inventory accounts were ten percent lower than the balances at the beginning of the year. The normal cost of goods sold, before under or overapplied overhead is: (Round your "predetermined overhead rate" to 1 decimal place.)
Group of answer choices $1,250,080. $1,334,780. $1,245,700. $1,252,480. $1,289,500.
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