LX7877 company has provided the following data for a month. The balance in the Finished Goods inventory account at the beginning of the month was $56,000 and at the end of the month was $30,400. The cost of goods manufactured for the month was $214,000. The actual manufacturing overhead cost incurred was $56,200 and the manufacturing overhead cost applied to Work in Process was $59,600. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear on LX7877 company's income statement for the month is: Multiple Choice $239,600 $214.000 $188,400 $236,200
LX7877 company has provided the following data for a month. The balance in the Finished Goods inventory account at the beginning of the month was $56,000 and at the end of the month was $30,400. The cost of goods manufactured for the month was $214,000. The actual manufacturing overhead cost incurred was $56,200 and the manufacturing overhead cost applied to Work in Process was $59,600. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear on LX7877 company's income statement for the month is: Multiple Choice $239,600 $214.000 $188,400 $236,200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:LX7877 company has provided the following data for a month. The balance in the Finished Goods inventory account at the beginning of the month was $56,000 and at the end of the month
was $30,400. The cost of goods manufactured for the month was $214,000. The actual manufacturing overhead cost incurred was $56,200 and the manufacturing overhead cost applied to
Work in Process was $59,600. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear
on LX7877 company's income statement for the month is:
Multiple Choice
$239,600
$214,000
$188,400
$236,200
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