Boursaw Corporation has provided the following data concerning last month\'s ope

Question

Boursaw Corporation has provided the following data concerning last month's operations. Purchases of raw materials Indirect materials included in manufacturing overhead $ 4,880 Direct labor cost Manufacturing overhead applied to Work in Process $78,900 Underapplied overhead $33,000 $58,000 $ 5,880 Beginning Ending $ 10,000 $15,000 Work in process inventory 56,e0e $72,eee Finished goods inventory41,e0e $49,88e Raw materials inventory 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? Multiple Choice $136,000 $185,000 $144,000 $141,000

Explanation / Answer

Raw materials inventory,beginning 10,000 add:purchases of raw materials 33,000 raw materials available for use 43,000 Raw materials inventory,ending 15,000 indirect raw materials 4,000 direct raw materials used 24,000 direct labor 58,000 Applied manufacturing overhead 78,000 total manufacturing cost for the year 160,000 Add:beginning work in process 56,000 less:ending work in process 72,000 cost of goods manufactured 144,000 cost of goods sold beginning , finished goods inventory 41,000 add cost of goods manufactured 144,000 cost of goods available for sale 185,000 ending,finished goods inventory 49,000 Unadjusted cost of goods sold 136,000 add:under applied overhead 5,000 Adjusted cost of goods sold 141,000 Answer $141,000

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