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Business, 09.03.2021 03:40 joej0778

A company had the following information for the year: Direct materials used $ 150,000 Direct labor incurred (1,250 hours) $ 87,000 Actual manufacturing overhead incurred $ 35,000 The company used a predetermined overhead rate of $22 per direct labor hour for the year. Assume all inventory account balances were unchanged during the period except the Finished Goods inventory balance decreased by $20,000 during the period. Assume over- and underapplied manufacturing overhead is closed out to cost of goods sold. What was adjusted cost of goods sold

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