Homework Answers
Correct answer------------(C) $297,600
Working
| Income statement (Partial) | ||
| Sales revenue | $ 751,000 | |
| Less: Cost of goods sold * | $ 453,400 | |
| Gross profit | $ 297,600 | |
| *Schedule of cost of goods sold | ||
| Unadjusted Cost of Goods Sold | $ 444,400 | |
| Underapplied Manufacturing overheads (302000-293000) | $ 9,000 | |
| Adjusted cost of goods sold | $ 453,400 | |
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