A local small manufacturer, Marginby Upedge Inc, uses a normal costing system to maintain costing information The records for the current year revealed the following data: Work in Process Ending Balance $38,150 Finished Goods Ending Balance 65,000 Cost of Goods Sold 186,800 Direct Labor For the Year 101,600 Direct Material put into production 78,900 Assume that Marginby Upedge Inc has overapplied overhead of $4,350 and that this amount is immaterial. What is the balance in Cost of Goods Sold after the overapplied overhead is closed?

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To find the balance in Cost of Goods Sold after the overapplied overhead is closed we need ... View the full answer