Acme Company commenced operations in July. On July 31, the l…
Acme Company commenced operations in July. On July 31, the location of Acme’s manufacturing costs added during the month of July is as follows: In July, Acme’s overhead costs were underapplied by $12,500, which is a material amount. What is the ending balance of finished goods inventory after Acme makes the proper adjustment for the underapplied overhead?