Luebke Incorporated has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $67,000 and at the end of the month was $31,500. The cost of goods manufactured for the month was $219,500. The actual manufacturing overhead cost incurred was $59,500 and the manufacturing overhead cost applied to Work in Process was $64,000. 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 the income statement for November is:
Luebke Incorporated has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $67,000 and at the end of the month was $31,500. The cost of goods manufactured for the month was $219,500. The actual manufacturing overhead cost incurred was $59,500 and the manufacturing overhead cost applied to Work in Process was $64,000. 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 the income statement for November is:
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter1: Introduction To Cost Accounting
Section: Chapter Questions
Problem 7E: The following data are taken from the general ledger and other records of Coral Park Production Co....
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Luebke Incorporated has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $67,000 and at the end of the month was $31,500. The cost of goods manufactured for the month was $219,500. The actual
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