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Use the following to answer questions
Keowee Enterprises began the year with $165,700 of finished goods inventory. During the year the company manufactured goods costing $689,200. At the end of the year, $194,100 of finished goods remained in inventory. Actual manufacturing overhead was $235,800, estimated manufacturing overhead was $230,000, and manufacturing overhead applied totaled $221,500.
-Assuming the over-underapplied manufacturing overhead was considered small and,therefore,closed out to Cost of Goods Sold,the cost of goods sold reported on the income statement for the period was:
Flexible Budget
A budget that adjusts or flexes with changes in the volume or activity level.
Static Planning Budget
A budget based on a fixed level of activity and does not change in response to variations in the actual level of activity.
Activity Variances
The differences between planned or standard costs of activities and the actual costs incurred, useful for management in budgeting and performance evaluation.
Patient-visits
Refers to the total number of times patients see a healthcare provider or visit a healthcare facility for services.
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