Company has OVERAPPLIED overhead of $50,000 for the year. Before the dispostion of the underapplied...
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Accounting
Company has OVERAPPLIED overhead of $50,000 for the year. Before the dispostion of the underapplied overhead, selected year end balance from the company accounting records were Sales $1,200,000 COGS $720,000 DM Inventory $36,000 WIP Inventory $54,000 FG Inventory $90,000 Under the company cost accounting system, over or under-applied overhead is assigned to appropriate inventories and COGS baed on year-end balances. In its year-end income statement, the company should report COGS of ? Please show work explain the answer . Thank you
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