Crane Manufacturing produces industrial light fixtures. For the year, management estimated that total manufacturing overhead would...

 

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Crane Manufacturing produces industrial light fixtures. For the year, management estimated that total manufacturing overhead would be $1110000. Management decided to use direct labor hours to apply manufacturing overhead and budgeted 143800 direct labor hours. The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control: Raw Materials Inventory $123900 Work in Process Inventory 464210 Finished Goods Inventory 432870 Cost of Goods Sold 2341500 For the year, manufacturing overhead was overapplied by $346000. If Crane prorates the overapplied overhead, what is the ending balance of Cost of Goods Sold? (Round intermediate calculations to 4 decimal places.) O $2591658 O $2091342 O $2805710 O $2774370 Crane Manufacturing produces industrial light fixtures. For the year, management estimated that total manufacturing overhead would be $1110000. Management decided to use direct labor hours to apply manufacturing overhead and budgeted 143800 direct labor hours. The following information was compiled before an adjustment had been made to close Manufacturing Overhead Control: Raw Materials Inventory $123900 Work in Process Inventory 464210 Finished Goods Inventory 432870 Cost of Goods Sold 2341500 For the year, manufacturing overhead was overapplied by $346000. If Crane prorates the overapplied overhead, what is the ending balance of Cost of Goods Sold? (Round intermediate calculations to 4 decimal places.) O $2591658 O $2091342 O $2805710 O $2774370

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Calculation Percent of cost of goods sold before adjust... View the full answer