Connecticut Manufacturing began business on January 1.During its first year of operation,Connecticut worked on five industrial jobs and reported the following information at year-end: Connecticut's allocation of overhead costs left a debit balance of $1400 in the Manufacturing Overhead account,which was adjusted to zero at year-end.What was the final balance in Cost of Goods Sold for the year ended December 31?

Question

Connecticut Manufacturing began business on January 1.During its first year of operation,Connecticut worked on five industrial jobs and reported the following information at year-end:  Connecticut's allocation of overhead costs left a debit balance of $1400 in the Manufacturing Overhead account,which was adjusted to zero at year-end.What was the final balance in Cost of Goods Sold for the year ended December 31?

Quizplus · Accepted Answer

Cost of Goods Sold:
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Connecticut Manufacturing Began Business on January 1