Homework Answers
Cost of goods sold consists of the costs of Jobs completed and sold during the accounting period.
During the year Job A-12 and Job A-13 were completed and sold.
(i) Cost of Job A-12 = $129,000
(ii) Cost of Job A-13 = $202,000
Credit balance in manufacturing overhead account indicates over applied manufacturing cost.
Over applied manufacturing cost = $11,000
Cost of goods sold final balance = Cost of Job A-12 + Cost of Job A-13 - Over applied manufacturing cost
= 129,000+202,000-11,000
= $320,000
Correct option is B.
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