Question
Vanex Co,.a publicly accountable company, uses a job order system and has provided the following selected information regarding its manufacturing operations for 20x2: Item Amount
Vanex Co,.a publicly accountable company, uses a job order system and has provided the following selected information regarding its manufacturing operations for 20x2:
| Item | Amount | |
| Total estimated overhead | $442,750 | |
| Total estimated direct labour hours | 66,750 | hours |
| Total direct labour hours incurred | 40,000 | hours |
| Manufacturing overhead costs incurred | Cost | |
| Indirect labour | $116,750 | |
| Indirect materials | $219,750 | |
| Utilities | $144,000 |
How much would you debit COGS to dispose of any over/under-applied overhead at year-end?
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Managerial Accounting
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
3rd edition
77826485, 978-0077722074, 77722078, 978-0077826482
