3.50 points TB MC Qu. 2-87 Ragtime Company had the following information... Ragt

Question

3.50 points TB MC Qu. 2-87 Ragtime Company had the following information... Ragtime Company had the following information for the year: Direct materials used Direct labor incurred (4,950 hours) Actual manufacturing overhead incurred $116,700 $155,200 182,760 Ragtime Company used a predetermined overhead rate of $39 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17,300. What was adjusted cost of goods sold? O $447650 $454,660 $437360 $463.960

Explanation / Answer

Calculate adjusted cost of goods sold :

Unadjusted cost of goods sold = 116700+155200+(4950*39)-17300 = 447650

Overapplied overhead = 193050-182760 = 10290

Adjusted cost of goods sold = 447650-10290 = 437360

so answer is c) 437360

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