Dawn Manufacturing produces industrial light fixtures.For the year,management estimated that total manufacturing overhead would be $1,120,000.Management decided to use direct labor hours to apply manufacturing overhead and budgeted 144,600 direct labor hours.The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control:
$$\begin{array}{ll}
\text { Raw Materials Inventory } & \$ 124,600 \
\text { Work in Process Inventory } & \$ 464,220 \
\text { Finished Goods Inventory } & \$ 432,870 \
\text { Cost of Goods Sold } & \$ 2,340,900
\end{array}$$ For the year,manufacturing overhead was overapplied by $340,000.If Dawn prorates the overapplied overhead,what is the ending balance of Cost of Goods Sold?

Question

Dawn Manufacturing produces industrial light fixtures.For the year,management estimated that total manufacturing overhead would be $1,120,000.Management decided to use direct labor hours to apply manufacturing overhead and budgeted 144,600 direct labor hours.The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control:
 $$\begin{array}{ll}
\text { Raw Materials Inventory } & \$ 124,600 \
\text { Work in Process Inventory } & \$ 464,220 \
\text { Finished Goods Inventory } & \$ 432,870 \
\text { Cost of Goods Sold } & \$ 2,340,900
\end{array}$$ For the year,manufacturing overhead was overapplied by $340,000.If Dawn prorates the overapplied overhead,what is the ending balance of Cost of Goods Sold?

Quizplus · Accepted Answer

The Answer of Dawn Manufacturing produces industrial light fixtures.For the year,management estimated that total manufacturing overhead would be $1,120,000.Management decided to use direct labor hours to apply manufacturing overhead and budgeted 144,600 direct labor hours.The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control:
 $$\begin{array}{ll}
\text { Raw Materials Inventory } & \$ 124,600 \
\text { Work in Process Inventory } & \$ 464,220 \
\text { Finished Goods Inventory } & \$ 432,870 \
\text { Cost of Goods Sold } & \$ 2,340,900
\end{array}$$ For the year,manufacturing overhead was overapplied by $340,000.If Dawn prorates the overapplied overhead,what is the ending balance of Cost of Goods Sold?

Dawn Manufacturing Produces Industrial Light Fixtures For the Year,manufacturing Overhead Was Overapplied by $340,000