Fletcher, Inc. disposes of under- or over-applied overhead at year-end as an adjustment to cost of goods

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Fletcher, Inc. 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 $619,000 in a year when manufacturing overhead was under-applied by $18,900. If sales revenue totaled $2,390,000, determine (1) Fletcher's adjusted cost of goods sold and (2) gross margin.​
Adjusted Cost of__________________ Goods Sold Gross Margin
A. $ 600,100..................................................$ 1,771,000
B. $ 600,100..................................................$ 1,789,900
C. $ 619,000..................................................$ 1,771,000
D. $ 637,900..................................................$ 1,752,100
E. $ 637,900................................................$ 1,771,000
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Related Book For  answer-question

Managerial Accounting Tools for Business Decision Making

ISBN: 978-1118033890

3rd Canadian edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly

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