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The table below represents the costs for different accounts (ending balance before applying under-over allocated balancing method) in company X. If the manufacturing overhead underallocated
The table below represents the costs for different accounts (ending balance before applying under-over allocated balancing method) in company X. If the manufacturing overhead underallocated is $20,000 and the allocation base that was used to allocate the overhead cost is machine hours Accounts Actual machine hours End of year balance Work in process 20 $50,000 Finished goods 30 $70,000 Cost of goods sold 50 $400,000 Find the value of WIP account after applying the proration approach based on ending balances (before proration) $54,000 $72,692 $56,000 $51,923 O
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