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The IS company uses traditional job-order costing with direct labor cost as the allocation base. The company reports the following information for last year: Direct
The IS company uses traditional job-order costing with direct labor cost as the allocation base. The company reports the following information for last year:
Direct labor cost | $ 81,000 |
---|---|
Raw material purchases | $ 132,000 |
Manufacturing overhead applied to work in process | $ 223,000 |
Actual manufacturing overhead costs | $ 201,000 |
Inventories | Beginning | Ending |
---|---|---|
Raw materials | $ 8,700 | $ 10,500 |
Work in process | $ 5,100 | $ 20,200 |
Finished goods | $ 73,000 | $ 25,600 |
The company closes out any underapplied or overapplied overhead to Cost of Goods Sold. What was the IS company's adjusted Cost of Goods Sold for last year?
multiple choice
$ 452,700
$ 465,500
$ 444,500
$ 427,000
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