ed Company provided the inventory balances and manufacturing cost data for the month o January below: Inventories January 1 P 30,000 15,000 65,000 January 31 P 40,000 20,000 50,000 Direct materials Work in process Finished goods Factory overhead applied Cost of goods manufactured Direct materials used Month of January P150,000 515,000 190,000 Actual factory overhead 144,000 Under Jared's cost system, any over- and underapplied overhead is closed to the cost c goods sold account at the end of the calendar year. What would cost of goods sold be under- or overapplied overhead were closed to cost of goods sold?

ed Company provided the inventory balances and manufacturing cost data for the month o January below: Inventories January 1 P 30,000 15,000 65,000 January 31 P 40,000 20,000 50,000 Direct materials Work in process Finished goods Factory overhead applied Cost of goods manufactured Direct materials used Month of January P150,000 515,000 190,000 Actual factory overhead 144,000 Under Jared's cost system, any over- and underapplied overhead is closed to the cost c goods sold account at the end of the calendar year. What would cost of goods sold be under- or overapplied overhead were closed to cost of goods sold?

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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Similar questions

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