Vogel Corporation's cost of goods manufactured last month was $136,000. The beginning finished goods inventory was $35,000 and the ending finished goods inventory was $48,000. Overhead was overapplied by $6,000. Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Vogel Corporation's cost of goods manufactured
last month was $136,000. The beginning finished
goods inventory was $35,000 and the ending
finished goods inventory was $48,000. Overhead
was overapplied by $6,000. Any underapplied or
overapplied manufacturing overhead is closed
out to cost of goods sold.
How much is the adjusted cost of goods sold on
the Schedule of Cost of Goods Sold?
Transcribed Image Text:Vogel Corporation's cost of goods manufactured last month was $136,000. The beginning finished goods inventory was $35,000 and the ending finished goods inventory was $48,000. Overhead was overapplied by $6,000. Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?
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