Please solve and explain: Abramov Inc, uses a job-order costing system in...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Please solve and explain:
Abramov 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 May the company completed job N29W that consisted of 25,650 units of one of the company's standard products. No other jobs were In process during the month. The job cost sheet for job N29W shows that the job's total cost was $790,020. During the month, the actual manufacturing overhead cost incurred was $268.850 and the manufacturing overhead cost applied was $249.850. Also during the month, 9,500 completed units from job N29W 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 edjustment for any underepplled or overepplled overheed) for May is closest to O $767520 O S790,020 O $297520 O $292,600
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
