Revu's Company's costs for the year were: Factory overhead applied: $400,000 Cost of goods manufactured: $880,000 Factory
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Question:
Revu's Company's costs for the year were:
Factory overhead applied: $400,000
Cost of goods manufactured: $880,000
Factory overhead incurred: $392,600
Finished goods inventory was $218,000 on January 1 and $190,000 on December 31.
If Revu closes overapplied or underapplied overhead cost to goods sold at year-end, what is the adjusted cost of goods sold for the year?
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118033890
3rd Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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