# Auckland Co. had a credit balance in their factory overhead account at the end of 2013...

###### Question:

Auckland Co. had a credit balance in their factory overhead account at the end of 2013 overhead of $84,000. Before adjusting for their over or under applied overhead their ending inventories had the following balances: Direct material$250,000, WIP $350,000, and Finished goods$ 600,000. Also the unadjusted Cost of goods sold account has a balance of $400,000 Required: A. Using the direct method how much was the adjustment to COGS B. Using the pro-raced method how much was the adjustment to COGS, and if gross margin was$225,000 what wad the impact on gross margin? Problem 5.

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