Asked by Nathan Perrine on Jul 14, 2024
Verified
Vogel Corporation's cost of goods manufactured last month was $136,000. The beginning finished goods inventory was $35,000 and the ending finished goods inventory was $48,000. Overhead was overapplied by $6,000. Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.How much is the cost of goods available for sale on the Schedule of Cost of Goods Sold?
A) $171,000
B) $117,000
C) $123,000
D) $136,000
Overapplied Manufacturing Overhead
A scenario in which the overhead assigned to goods or services surpasses the actual costs, necessitating adjustments in financial accounting.
Cost of Goods Sold
Cost of goods sold represents the direct costs attributable to the production of the goods sold by a company, including materials and labor.
Finished Goods Inventory
Finished and market-ready products still awaiting purchase.
- Figure out the cost necessary for producing goods.
Verified Answer
Learning Objectives
- Figure out the cost necessary for producing goods.
Related questions
Boursaw Corporation Has Provided the Following Data Concerning Last Month's ...
Gurtner Corporation Has Provided the Following Data Concerning Last Month's ...
Information for the Deuce Manufacturing Company Follows ...
Laramie Technologies Had the Following Data: Determine the Cost ...
Gurtner Corporation Has Provided the Following Data Concerning Last Month's ...