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Fletcher Company_under- or over-applied overhead

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Question;Fletcher Company disposes of;under- or over-applied overhead at year-end as an;adjustment;to cost of goods sold. Prior to disposal, the firm reported cost of;goods;sold of $590,000 in a year when manufacturing overhead was;under-applied;by $15,000. If sales revenue totaled $1,400,000, determine;(1) Fletcher's adjusted cost of goods sold and;(2) gross margin.;Adjusted;Cost Gross;Margin;of;Goods Sold;A.;$575,000 $810,000;B.;$575,000 $825,000;C.;$590,000 $810,000;D. $605,000;$795,000;E.;$605,000 $810,000

 

Paper#38259 | Written in 18-Jul-2015

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