Multiple Choice
Phoenix Corporation
The records of Phoenix Corporation revealed the following data for the current year.
| Work in Process | $ 73,150 |
| Finished Goods | 115,000 |
| Cost of Goods Sold | 133,650 |
| Direct Labor | 111,600 |
| Direct Material | 84,200 |
Refer to Phoenix Corporation.Assume that Phoenix has overapplied overhead of $25,000 and that this amount is material.What is the balance in Cost of Goods Sold after the overapplied overhead is closed?
A) $123,267
B) $144,033
C) $158,650
D) $108,650
Correct Answer:
Verified
Correct Answer:
Verified
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