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KatRina [158]
3 years ago
9

Luebke Incorporated has provided the following data for the month of November. The balance in the Finished Goods inventory accou

nt at the beginning of the month was $72,000 and at the end of the month was $32,000. The cost of goods manufactured for the month was $222,000. The actual manufacturing overhead cost incurred was $61,000 and the manufacturing overhead cost applied to Work in Process was $66,000. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear on the income statement for November is:
Business
1 answer:
sesenic [268]3 years ago
3 0

Answer:

$257,000

Explanation:

Calculation for what The adjusted cost of goods sold that would appear on the income statement for November is:

First step is to calculate Over applied overhead

Over applied overhead = $66,000- $61,000

Over applied overhead= $5,000

Second step is to calculate Unadjusted cost of goods sold

Unadjusted cost of goods sold = $72,000+$222,000+$32,000

Unadjusted cost of goods sold = $262,000

Now let calculate the Adjusted cost of goods sold

Adjusted cost of goods sold = $262,000-$5,000 Adjusted cost of goods sold= $257,000

Therefore The adjusted cost of goods sold that would appear on the income statement for November is:$257,000

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If a​ firm's average total cost is less than price where MR​ = MC,
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C. the firm should produce if its price exceeds average variable cost.

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3 years ago
Brenda says her assets are definitely greater than her liabilities. which explains whether brenda is correct? brenda is correct
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Brenda is not correct because the total value of her assets could be less than the liabilities.

<h3>What are liabilities?</h3>

A liability is an obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like cash, products, or services.

Liabilities on the balance sheet's right side are represented by debts like as loans, accounts payable, mortgages, deferred revenue, bonds, warranties, and accumulated costs.

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brainly.com/question/14921529

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3 0
1 year ago
Customers have a defined ________ when it comes to waiting in line at a retail checkout counter. The amount of time consumers ar
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