immy Author Company has the following data for the past year: Actual overhead $512,000 Applied overhead: Work-in-process inventory $125,000 Finished goods inventory 170,000 Cost of goods sold 150,000 Total $445,000 Calculate the overhead variance for the year and close it to cost of goods sold. Provide all the details and working outs.
immy Author Company has the following data for the past year: Actual overhead $512,000 Applied overhead: Work-in-process inventory $125,000 Finished goods inventory 170,000 Cost of goods sold 150,000 Total $445,000 Calculate the overhead variance for the year and close it to cost of goods sold. Provide all the details and working outs.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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immy Author Company has the following data for the past year:
|
Actual |
$512,000 |
|
Applied overhead: |
|
|
Work-in-process inventory |
$125,000 |
|
Finished goods inventory |
170,000 |
|
Cost of goods sold |
150,000 |
|
Total |
$445,000 |
Calculate the overhead variance for the year and close it to cost of goods sold. Provide all the details and working outs.
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