Question: Grayson Incorporated has provided the following data for the month of October. The balance in the Finished Goods inventory account at the beginning of
Grayson Incorporated has provided the following data for the month of October. The balance in the Finished Goods inventory account at the beginning of the month was $52,000 and at the end of the month was $48,000. The cost of goods manufactured for the month was $229,000. The actual manufacturing overhead cost incurred was $77,000 and the manufacturing overhead cost applied to Work-in-Process was $73,000. Assuming any over- or underapplied overhead is written off to Cost of Goods Sold, what amount would appear on the income statement for Cost of Goods Sold for October? 06 Multiple Choice $229,000 $233,000 $225,000 $237,000
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