find. 1) cost of goods sold during the year 20x1. 2)if the variation of manufacturing...
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find. 1) cost of goods sold during the year 20x1. 2)if the variation of manufacturing overhead cost is not significant, what is the amount of COGS after reconciliation??
CoursHeroTranscribedText: Maple Mount Fishery is a canning company in Astoria. The company uses a normal costing system in which factory overhead is applied on the basis of direct labor costs. Budgeted factory overhead for the year was $684,600, and management budgeted $326,000 of direct labor costs. During the year (20x1), the company incurred the following MAME. Direct materials used ................ $388,000 Direct labor ............................ $307,000 Factory overhead ................... $652,000 The January 1 balances of inventory accounts are shown below. Materials (all direct): $62,300 Work-in-process: $43,100 Finished goods $25,800 In 20x1, the December 31 balances of Work-in-Process and Finished goods are $38,790 and $23,220, respectively
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