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Superior Corp. applies manufacturing overhead to production at 70% of direct labor cost. During the year ended 20xx, manufacturing overhead of $138,670 was applied
Superior Corp. applies manufacturing overhead to production at 70% of direct labor cost. During the year ended 20xx, manufacturing overhead of $138,670 was applied to production; actual manufacturing overhead was $156,300 Ending Work in Process Inventory was $21,450 and ending Finished Goods Inventory was $31,240. Work in Process Inventory increased by 10% during the year and Finished Goods Inventory increased by 10% during the year. Unadjusted Cost of Goods Sold was $573,200. Complete the following schedule: 9:24 Item Direct Materials Used in Production Direct Labor Manufacturing Overhead Applied Current Manufacturing Costs Beginning Work in Process Inventory Ending Work in Process Inventory Cost of Goods Manufactured Beginning Finished Goods Inventory Ending Finished Goods Inventory Unadjusted Cost of Goods Sold Overhead Adjustment Adjusted Cost of Goods Sold Amount Check my work
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