Solution-What is the balance in cost of goods sold

What is the balance in cost of goods sold

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Reference no: EM133125443

Question - Victoria, Inc is a SME manufacturing company located 75 miles north of Corpus Christie. Victoria uses a normal costing system to maintain costing information.

The records for the current year revealed the following data:

Work in Process $ 73,150

Finished Goods 115,000

Cost of Goods Sold 133,650

Direct Labor 111,600

Direct Material 84,200

Assume that Victoria has underapplied overhead of $10,000 and that this amount is immaterial. What is the balance in Cost of Goods Sold after the underapplied overhead is closed?

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What is the balance in cost of goods sold

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Reference no: EM133125443

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