A firm uses backflush costing to assign product costs to inventory and values inventory using throughput accounting.
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A firm uses backflush costing to assign product costs to inventory and values inventory using throughput accounting. All actual cost and unit figures below are equal to budgeted amounts. (Treat in-process units as 100% complete, and treat units started as total equivalent units.)
There are $2,000 of raw materials leftover at the end of the period. After backflushing costs, what is the balance of the cost of goods sold account? | |||||||||||||||
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Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
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