Reference no: EM132955054
Question - Randall Company manufactures products to customer specifications.
A job costing system is used to accumulate production costs. Factory overhead cost was applied at 125% of direct labor cost. Selected data concerning the past year's operation of the company are presented below.
January 1 December 31
Direct materials $84,000 $47,000
Work in process 73,000 49,000
Finished goods 122,000 107,000
Other information
Direct materials purchases $331,000
Cost of goods available for sale 964,000
Actual factory overhead costs 267,000
Required - Find the cost of goods sold (before adjustment for under or overapplied overhead)?
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