Wilson Manufacturing reports a cost of goods sold of $825,000 before disposing of overapplied overhead of $23,500 at year-end as an adjustment to cost of goods sold. If sales revenue is $1,450,000, determine: 1. The adjusted cost of goods sold 2. The gross margin Choices: A. $801,500 / $648,500 B. $801,500/$625,000 C. $825,000/$625,000 D. $848,500 / $601,500 E. $848,500 / $625,000

Wilson Manufacturing reports a cost of goods sold of $825,000 before disposing of overapplied overhead of $23,500 at year-end as an adjustment to cost of goods sold. If sales revenue is $1,450,000, determine: 1. The adjusted cost of goods sold 2. The gross margin Choices: A. $801,500 / $648,500 B. $801,500/$625,000 C. $825,000/$625,000 D. $848,500 / $601,500 E. $848,500 / $625,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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