Solution-Compute cost of goods sold that appears on income

Compute cost of goods sold that appears on income statement

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Reference no: EM131713956

Question - Hubley Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month. The company has provided the following data for August:

Direct materials - $80,750

Direct Labor cost - $97,250

Manufacturing warhead cost Incurred - $64.000

Manufacturing overhead cost applied - $68,075

Inventories	beginning	Ending
Work in process	$14,500	$16,550
Finished goods	$55,200	$33,750

The cost of goods sold that appears on the income statement for August and that has been adjusted for any underapplled or overapplied overhead is closest to:

$261,400

$269,550

$244,025

$265,475

Reference no: EM131713956

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Compute cost of goods sold that appears on income statement

Reference no: EM131713956

Reference no: EM131713956

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