Jorst Manufacturing Company began business on January 1, 2012. During its first year of operation, Jorst worked on 5 industrial jobs, and reported the following information at year-end: Jorst's allocation of overhead costs left a debit balance of $1,200 in the Manufacturing overhead account which was adjusted to zero at year-end. What was the amount of gross profit earned in 2012?

Question

Jorst Manufacturing Company began business on January 1, 2012. During its first year of operation, Jorst worked on 5 industrial jobs, and reported the following information at year-end:  Jorst's allocation of overhead costs left a debit balance of $1,200 in the Manufacturing overhead account which was adjusted to zero at year-end. What was the amount of gross profit earned in 2012?

Quizplus · Accepted Answer

The Answer of Jorst Manufacturing Company began business on January 1, 2012. During its first year of operation, Jorst worked on 5 industrial jobs, and reported the following information at year-end:  Jorst's allocation of overhead costs left a debit balance of $1,200 in the Manufacturing overhead account which was adjusted to zero at year-end. What was the amount of gross profit earned in 2012?

Jorst Manufacturing Company Began Business on January 1, 2012