Heming Inc

question 111

Essay

Heming Inc.uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month.The company's cost of goods manufactured for September was $114,000;its beginning finished goods inventory was $31,000;its ending finished goods inventory was $35,000;its manufacturing overhead was underapplied by $5,000.
Required:
Determine the cost of goods sold that would appear on the income statement for September;in other words,determine the cost of goods sold after adjustment for any underapplied or overapplied overhead.Show your work!

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Definitions:

Single Population Variance

A measure of the variance of a set of values in a single group or population.

Independence

A condition where the occurrence or outcome of one event does not affect the occurrence or outcome of another event.

Student Body

The collective group of students enrolled at a particular educational institution.

Significant Change

A notable or considerable difference in data or results that exceeds the expectations of random variation.