INTERMEDIATE ACCOUNTING LL W/ ACCESS 540
INTERMEDIATE ACCOUNTING LL W/ ACCESS 540
10th Edition
ISBN: 9781264688715
Author: SPICELAND
Publisher: MCG
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what is the gin or loss on disposal?
Grayson Manufacturing disposes of under or overapplied overhead at year-end as an adjustment to the cost of goods sold. Prior to disposal, the firm reported a cost of goods sold of $725,000 in a year when manufacturing overhead was underapplied by $22,400. If sales revenue totaled $2,850,000, determine: 1. Grayson's adjusted cost of goods sold. 2. Gross margin.
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