1. Assuming Modern Cabinets applies $510,000 of factory overhead to all of its jobs this year...

 

 

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1. Assuming Modern Cabinets applies $510,000 of factory overhead to all of its jobs this year but has actual factory overhead of $515,000, has overhead been over- or underapplied? 2. If the current COGS is $2,000,000, what should the ending COGS be after reconciling the actual and applied overhead? 1. Assuming Modern Cabinets applies $510,000 of factory overhead to all of its jobs this year but has actual factory overhead of $515,000, has overhead been over- or underapplied? 2. If the current COGS is $2,000,000, what should the ending COGS be after reconciling the actual and applied overhead?

Answer rating: 100% (QA)

1 To determine if overhead has been over or underapplied we need to compare the applie... View the full answer