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:

Groupthink

A pattern of thinking that occurs when a cohesive group minimizes or ignores members’ differences of opinion.

Highly Cohesive

Describes a group, material, or entity that is united and works well together, showing a strong sense of togetherness or bond.

External Threat

A danger originating outside an organization or individual, potentially causing harm or disruption.

Group Polarization

A pattern in group discussions in which each member’s attitudes become more extreme, even though the discussion draws attention to arguments that could have moderated their views.