Cotton On Manufacturing Company had remaining credit balance of P10,000 in its factory overhead account at year end. It also had the year-end balances in the following accounts: Work in Process P250,000 150,000 850,000 Finishehd Goods Cost of goods sold 17. Assuming the credit balance of factory overhead is closed to cost of goods sold, what is the balance of cost of goods sold after closing the variance?.

Cotton On Manufacturing Company had remaining credit balance of P10,000 in its factory overhead account at year end. It also had the year-end balances in the following accounts: Work in Process P250,000 150,000 850,000 Finishehd Goods Cost of goods sold 17. Assuming the credit balance of factory overhead is closed to cost of goods sold, what is the balance of cost of goods sold after closing the variance?.

Name: Cotton On Manufacturing Company had remaining credit balance of P10,0
Uploaded: 2024-03-20T06:33:06.000Z
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Description: Cotton On Manufacturing Company had remaining credit balance of P10,000 in its factoryoverhead account at year end. It also had the year-end balances in the following accounts:Work in ProcessP250,000150,000850,000Finishehd GoodsCost of goods sold17.

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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Subject:- Accounting
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