INTERMEDIATE ACCOUNTING
1st Edition
ISBN: 9781264920532
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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- Landry Manufacturing has two operating departments: Blending and Shaping. Blending has 300 employees and occupies 25,000 ft². Shaping has 100 employees and occupies 20,000 ft². Indirect factory costs for the current month are: administrative, $920,000; and maintenance, $250,000. Administrative costs are allocated to operating departments based on the number of workers. Determine the administrative costs allocated to each operating department.arrow_forwardProvide correct option general accounting questionarrow_forwardWhat was the inventory turnover ratio for this financial accounting question?arrow_forward
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