World Window Company produces custom windows to specifications provided by archi

Question

World Window Company produces custom windows to specifications provided by architects. At the end of its accounting period, its account balances indicated the following:

Determine the adjusted balances of the accounts if the balance in Manufacturing Overhead is considered immaterial in amount and assigned to Cost of Goods Sold.

Determine the adjusted balances of the accounts if the balance in Manufacturing Overhead is considered material in amount.

World Window Company produces custom windows to specifications provided by architects. At the end of its accounting period, its account balances indicated the following:

Raw Materials Inventory $80,000 Work in Process Inventory 66,000 Finished Goods Inventory 44,000 Cost of Goods Sold 440,000 Manufacturing Overhead (credit balance) 50,000

Explanation / Answer

1.Adjusted Balances

2.Adjusted Balances

Raw Materials Inventory $80,000 Work in Process Inventory 66,000 Finished Goods Inventory 44,000 Cost of Goods Sold 490,000

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