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QUESTION 3 Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at
QUESTION 3 Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 125% of direct labor cost under normal costing. Selected data concerning the past year's operation of the company are presented below. Direct materials Work in process Finished goods anuary December 31 $ 77,000 40,000 42,000 100,000 66,000 115,000 Other information Direct materials purchases Cost of goods available for sale Actual factory overhead costs S 324,000 950,000 260,000 The cost of goods sold (before adjustment for under or overapplied overhead) is: $850,00o. $348,000. $867,000. $835,000. $811,000
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