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Stangl Inc

question 76

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Stangl Inc.has provided the following data for the month of September.There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Stangl Inc.has provided the following data for the month of September.There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.   Manufacturing overhead for the month was underapplied by $3,000.  The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.  Required: Determine the cost of work in process, finished goods, and cost of goods sold AFTER allocation of the underapplied or overapplied overhead for the period. Manufacturing overhead for the month was underapplied by $3,000.

The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.

Required:
Determine the cost of work in process, finished goods, and cost of goods sold AFTER allocation of the underapplied or overapplied overhead for the period.


Definitions:

World-Class Industrial Power

Refers to a nation or state that possesses dominant, highly developed, and advanced industrial capabilities, impacting the global economy significantly.

Industrial Development

The process of increasing the economic productivity and manufacturing capabilities of a nation or region, often through strategic investments and policies.

Large-Scale Process

A method or operation involving a large volume of production or processing, often utilizing advanced and mechanized systems.

Privatization

The process of transferring an enterprise or industry from government to private ownership and control.

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