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Foxmoor Company applies manufacturing overhead by using a predetermined rate of 70% of direct labor cost. The data that follow pertain to job no. 764:
Direct material cost $ 100,000
Direct labor cost 125,000
If Foxmoor adds a 35% markup on total cost to generate a profit, which of the following choices depicts a portion of the accounting needed to record the sale of job no. 764?
Account Debited Amount
A. Cost of Goods Sold $ 312,500
B. Cost of Goods Sold $ 421,875
C. Finished-Goods Inventory $ 312,500
D. Finished-Goods Inventory $ 421,875
E. Sales Revenue $ 421,875
Sagot :
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