Please do not give solution in image format thanku Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs.What is the amount of cost of goods manufactured for the year?Multiple Choiceоо$460,300$254,450$467,000$515,600 The following accounts are from last year's books at Sharp Manufacturing:BalanceBalance(b)(c)(e)Balance(f)(b)(c)(d)DebitDebitDebitDebitDebitRaw Materials0 (b)167,50012,100Work In Process0 (f)132,700169,400213,5000Finished Goods(g)515,60048,600Manufacturing Overhead22,700 (e)26,700157,400Cost of Goods Sold467,000CreditCreditCreditCreditCredit155,400515,600467,000213,5006,700

Name: Please do not give solution in image format thanku Sharp uses job-orde
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Description: Please do not give solution in image format thanku Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs.What is the amount of cost of goods manufactured for the year?Multiple Choiceоо$460,300$254,450$467

The cost of goods manufactured incclused tne cost of goods that are finished at the end of the…

Business

Accounting

Balance (b) (c) (e) Balance (f) (b) (c) (d) (g) Debit Debit Debit Debit 12,100 Work In Process 0 (f) 132,700 169,400 213,500 0 Finished Goods (g) 515,600 48,600 Manufacturing Overhead 22,700 (e) 26,700 157,400 Cost of Goods Sold 467,000 Credit Credit Credit Credit 515,600 467,000 213,500 6,700

Balance (b) (c) (e) Balance (f) (b) (c) (d) (g) Debit Debit Debit Debit 12,100 Work In Process 0 (f) 132,700 169,400 213,500 0 Finished Goods (g) 515,600 48,600 Manufacturing Overhead 22,700 (e) 26,700 157,400 Cost of Goods Sold 467,000 Credit Credit Credit Credit 515,600 467,000 213,500 6,700

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The T-accounts below provide selected data about Company J’s financial results for the year: Raw Materials Inventory Jan 1 bal. P22,500 ? Credits Debits P75,000 Dec. 31 bal P18,000 Finished Goods Jan 1 bal. P90,000 ? Credits Debits ? Dec. 31 bal P72,000 Factory Overhead Debits P111,000 ? Credits Work In Process Jan 1 bal. P52,500 P282,000 Credits Direct Materials P72,000 Direct Labor P90,000 Factory Overhead P112,500 Dec 31 Bal. ? Manufacturing Wages Payable Debits P111,000 P66,000 Jan 1 Bal P99,000 Credits Cost of Goods Sold Debits ? The Cost of Goods Sold is a.P282,000    b.P372,000 c.P300,000 d.P274,500
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The following accounts are from last year's books at Sharp Manufacturing: Balance (a) (b) (c) (d) Debit Debit Raw Materials Multiple Choice e (b) 174,000 16,000 Manufacturing Overhead 24,000 (e) 28,000 160,000 $8,000 underapplied $8,000 overapplied $28,000 underapplied Credit $28,000 overapplied Credit 158,000 Balance (b) (c) (e) 220,000 (g) 8,000 Debit Debit Work In Process 0 (f) 134,000 172,000 220,000 0 Cost of Goods Sold 480,000 Credit Credit 526,000 Balance (f) Debit Finished Goods Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the manufacturing overhead overapplied or underapplied for the year? 526,000 46,000 (g) Credit 480,000
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