Solution-What is the cogs after adjustment of under applied

What is the cogs after adjustment of under applied overhead

Reference no: EM132738791

The following transactions and account balances of MARCELO company are as follows:

Manufacturing cost of 1,000,000.00 ; Conversion cost of 600,000.00 ; Sales of 2,500,000.00; Selling and admin expenses of 550,000.00 ; Factory overhead control account of 235,000.00 ; Overhead application rate per labor hour of PHP 6 per hour ; Increase in Work in process account of 120,000.00 ; Decrease in Finished Goods Inventory of 250,000.00 ; Direct labor rate per hour of PHP 10 per hour.

Problem 1: Applied Overhead is equivalent to 60% of Direct labor cost. What is the COGS after adjustment of under/over applied overhead (O/U OH is immaterial)?

Reference no: EM132738791

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What is the cogs after adjustment of under applied overhead

Reference no: EM132738791

Reference no: EM132738791

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