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A company had an unadjusted Cost of Goods Sold of $1,690,000. The company closes its underapplied or overapplied overhead to Cost of Goods Sold. The company had actual manufacturing overhead of $650,000 and applied manufacturing overhead of $666,250. What is the adjusted Cost of Goods Sold for the year

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Cricetus

Answer:

"$1,673,750" is the appropriate answer.

Explanation:

The given values in the question are:

Applied overhead,

= $666,250

Actual overhead,

= $650,000

Unadjusted cost,

= $1,690,000

Now,

The overapplied overhead will be:

= [tex]Applied \ overhead-Actual \ overhead[/tex]

= [tex]666,250-650,000[/tex]

= [tex]16,250[/tex] ($)

hence,

The goods sold's adjusted cost will be:

= [tex]Unadjusted \ cost-Overapplied \ overhead[/tex]

= [tex]1,690,000-16,250[/tex]

= [tex]1,673,750[/tex] ($)

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