Christine Corp. applies manufacturing overhead to production at 80% of direct labor cost. During 20x5, manufacturing overhead of $200,000 was applied to production; actual manufacturing overhead was $189,000. Beginning Work in Process Inventory was $25,000, and beginning Finished Goods Inventory was $45,000. Work in Process Inventory decreased by 20% during the year and Finished Goods Inventory decreased by 10% during the year. Adjusted Cost of Goods Sold was $623,500 for 20x5.
Complete the following schedule:

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The Answer of Christine Corp. applies manufacturing overhead to production at 80% of direct labor cost. During 20x5, manufacturing overhead of $200,000 was applied to production; actual manufacturing overhead was $189,000. Beginning Work in Process Inventory was $25,000, and beginning Finished Goods Inventory was $45,000. Work in Process Inventory decreased by 20% during the year and Finished Goods Inventory decreased by 10% during the year. Adjusted Cost of Goods Sold was $623,500 for 20x5.
Complete the following schedule: