Westview Production's cost of goods manufactured for the quarter was $320,000. The beginning finished goods inventory was $75,000 and the ending finished goods inventory was $68,000. Manufacturing overhead was overapplied by $12,400. 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?

Westview Production's cost of goods manufactured for the quarter was $320,000. The beginning finished goods inventory was $75,000 and the ending finished goods inventory was $68,000. Manufacturing overhead was overapplied by $12,400. 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?

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter7: Variable Costing For Management analysis

Section: Chapter Questions

Problem 1E: At the end of the first year of operations, 21,500 units remained in the finished goods inventory....

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