At the end of 2018, Furry Balls Co. Had the following account balances after factory overhead had been closed to manufacturing overhead control: Manufacturing overhead control: P20,000 cr. Cost of goods sold 384,000 dr. Finished goods 96,000 dr. Work in process 160,000 dr. Raw materials 160,000 dr. Case 1: Any under -or over-applied overhead is considered immaterial. a. What is the adjusted balance cost of goods sold after disposing the under-or overapplied overhead? b. What is the adjusted balance of work in process inventory after disposing the under -or over-applied overhead? c. What is the adjusted balance of finished goods inventory after disposing the under-or over-applied overhead? d. What is the adjusted balance of work in process inventory after disposing the under-or over-applied overhead?
At the end of 2018, Furry Balls Co. Had the following account balances after factory
had been closed to manufacturing overhead control:
Manufacturing overhead control: P20,000 cr.
Cost of goods sold 384,000 dr.
Finished goods 96,000 dr.
Work in process 160,000 dr.
Raw materials 160,000 dr.
Case 1: Any under -or over-applied overhead is considered immaterial.
a. What is the adjusted balance cost of goods sold after disposing the under-or overapplied overhead?
b. What is the adjusted balance of work in process inventory after disposing the under -or
over-applied overhead?
c. What is the adjusted balance of finished goods inventory after disposing the under-or
over-applied overhead?
d. What is the adjusted balance of work in process inventory after disposing the under-or
over-applied overhead?
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