Lewis Inc.uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at the end of the month.In October the company completed job P70C that consisted of 25,000 units of one of the company's standard products.No other jobs were in process during the month.The job cost sheet for job P70C shows the following costs: During the month,the actual manufacturing overhead cost incurred was $334,500 and 13,000 completed units from job P70C were sold.No other products were sold during the month.
-The unadjusted cost of goods sold (in other words,the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for October is closest to:

Question

Lewis Inc.uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at the end of the month.In October the company completed job P70C that consisted of 25,000 units of one of the company's standard products.No other jobs were in process during the month.The job cost sheet for job P70C shows the following costs:  During the month,the actual manufacturing overhead cost incurred was $334,500 and 13,000 completed units from job P70C were sold.No other products were sold during the month.
-The unadjusted cost of goods sold (in other words,the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for October is closest to:

Quizplus · Accepted Answer

Unadjusted cost of goods sold (13,000 units F1F1F1S1F1F1F10 $55.00 per unit) = $715,000

Lewis Incuses a Job-Order Costing System in Which Any Underapplied or or Overapplied