Tucson Co. uses normal absorption costing. Factory overhead is applied to production at a budgeted rate based on direct labour cost. At the end of the period, there are two unfinished jobs. Additional information is available as follows:

– Direct materials used = €50,000.

– Direct labour = €100,000.

– Beginning balance of work in process = €100,000. 

– Cost of goods manufactured = €150,000. 

– Finished goods beginning inventory = €140,000.

– Finished goods ending inventory = €110,000. 

– Factory overhead is overapplied by €60,000. 

– Actual factory overhead = €90,000.

Determine the following:
1. The cost of goods sold before disposition of overapplied overhead. 

2. Ending balance in WIP. 

3. Budgeted rates for applying factory overhead 4 Assuming the overapplied factory overhead is not prorated, what is adjusted cost of goods sold?