The following annual amounts pertain to the wolf company:
estimated overhead costs $ 101,988<...
The following annual amounts pertain to the wolf company:
estimated overhead costs $ 101,988
estimated direct labor hours 67,992
if actual overhead costs for the year amounted to $106,000 and actual direct labor worked amounted to 70,000 hours, the year-end adjustment necessary to close the manufacturing overhead account would
a. decrease the amount of cost of goods sold .
b. not affect the amount of cost of goods sold.
c. increase the amount of cost of goods sold.
d. there would be no adjusting entry at the end of the accounting period.
Answers: 3
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