Allison Corporation reports end-of-year data as follows for 2015: Sales revenue $570,000 Actual manufacturing overhead $103,600...
Allison Corporation reports end-of-year data as follows for 2015:
- Sales revenue $570,000
- Actual manufacturing overhead $103,600
- Allocated manufacturing overhead $ 96,000
- Cost of Goods Sold $ 368,000
Allison adjusts cost of goods sold for any balance in manufacturing overhead. The gross profit of Allison Corporation is:
|
$194,400 |
||
|
$292,000 |
||
|
$278,000 |
||
|
$202,000 |
Homework Answers
Underapplied overhead = Actual manufacturing overhead - Allocated manufacturing overhead
= $103,600 - $96,000
= $7,600
Cost of goods sold = $368,000 + $7,600 = $375,600
Gross Profit = Sales - Cost of goods sold
= $570,000 - $375,600
= $194,400
1st option.
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Allison Corporation reports end-of-year data as follows for
2015:
Sales revenue $570,000
Actual manufacturing overhead $103,600...
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