Dusk Industries produces industrial convection ovens.For the year,management estimated that total manufacturing overhead would be $3,079,980.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:
$$\begin{array}{ll}
\text { Actual direct labor hours worked } & 145,360 \
\text { Actual overhead incurred } & \$ 3,062,590 \
\text { Finished Goods Inventory } & \$ 525,600 \
\text { Cost of Goods Sold } & \$ 4,864,000
\end{array}$$ If Dusk closes the entire amount of under-or overapplied overhead to Cost of Goods Sold,what was the ending balance in that account?

Question

Dusk Industries produces industrial convection ovens.For the year,management estimated that total manufacturing overhead would be $3,079,980.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:
 $$\begin{array}{ll}
\text { Actual direct labor hours worked } & 145,360 \
\text { Actual overhead incurred } & \$ 3,062,590 \
\text { Finished Goods Inventory } & \$ 525,600 \
\text { Cost of Goods Sold } & \$ 4,864,000
\end{array}$$ If Dusk closes the entire amount of under-or overapplied overhead to Cost of Goods Sold,what was the ending balance in that account?

Quizplus · Accepted Answer

The Answer of Dusk Industries produces industrial convection ovens.For the year,management estimated that total manufacturing overhead would be $3,079,980.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:
 $$\begin{array}{ll}
\text { Actual direct labor hours worked } & 145,360 \
\text { Actual overhead incurred } & \$ 3,062,590 \
\text { Finished Goods Inventory } & \$ 525,600 \
\text { Cost of Goods Sold } & \$ 4,864,000
\end{array}$$ If Dusk closes the entire amount of under-or overapplied overhead to Cost of Goods Sold,what was the ending balance in that account?

Dusk Industries Produces Industrial Convection Ovens If Dusk Closes the Entire Amount of Under-Or Overapplied Overhead