Gulz Chpt 2 &3 6 Sd Help Save&Exit Submit L Inc. has provided the following data

Question

Gulz Chpt 2 &3 6 Sd Help Save&Exit Submit L Inc. has provided the following data tor the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $55,000 and at the end of the month was $30,300. The cost of goods rmanufactured for the crth was $213,500. The actual manufacturing overhead cost incurred was 555,900 and the faturing overreed cost applied to Woki Process was S59,200. The comparty doses out ay underapplied or overhead to cost of goods sold. The cod The adjusted cost of goods scld that wouk: appear on the e income statement fr Nowernber 5238.200 $2234,900 5213,500 Prew of 16Nxt>

Explanation / Answer

Calculate adjusted cost of goods sold :

So answer is c) $234900

Beginning finished goods 55000 Cost of goods manufactured 213500 Less: Ending finished goods -30300 Unadjusted cost of goods sold 238200 Less: Overapplied overhead (59200-55900) -3300 Adjusted cost of goods sold 234900

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