Cerrone Inc. has provided the following data for the month of July. The balance in the Finished Goods inventory account at the beginning of the month was $50,400 and at the end of the month was $38,400. The cost of goods manufactured for the month was $291,000. The actual manufacturing overhead cost incurred was $165,400 and the manufacturing overhead cost applied to Work in Process was $154,000. The adjusted cost of goods sold that would appear on the income statement for July is: $279,000 S303,000 $291,600 $314,400

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Cerrone Inc. has provided the following data for the month of July. The balance in the Finished Goods
inventory account at the beginning of the month was $50,400 and at the end of the month was $38,400.
The cost of goods manufactured for the month was $291,000. The actual manufacturing overhead cost
incurred was $165,400 and the manufacturing overhead cost applied to Work in Process was $154,000.
The adjusted cost of goods sold that would appear on the income statement for July is:
$279,000
$303,000
$291,600
$314,400
Transcribed Image Text:Cerrone Inc. has provided the following data for the month of July. The balance in the Finished Goods inventory account at the beginning of the month was $50,400 and at the end of the month was $38,400. The cost of goods manufactured for the month was $291,000. The actual manufacturing overhead cost incurred was $165,400 and the manufacturing overhead cost applied to Work in Process was $154,000. The adjusted cost of goods sold that would appear on the income statement for July is: $279,000 $303,000 $291,600 $314,400
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