Question: overhead variances and their disposal warner company has the following...
Overhead Variances and Their Disposal
Warner Company has the following data for the past year:
|Finished goods inventory||104,000|
|Cost of goods sold||104,000|
Warner uses the overhead control account to accumulate both actual and applied overhead.
Assume the variance calculated is material. After prorating, provide the final ending balances of these accounts.
|Finished Goods Inventory||$104,000||$||$|
|Cost of Goods Sold||$104,000||$||$|