South Bay Manufacturing began business on January 1.During its first year of operation,South Bay worked on five industrial jobs and reported the following information at year-end:

South Bay's allocation of overhead costs left a debit balance of $1500 in the Manufacturing Overhead account,which was adjusted to zero at year-end.What was the amount of gross profit earned during the year?

Question

South Bay Manufacturing began business on January 1.During its first year of operation,South Bay worked on five industrial jobs and reported the following information at year-end:

South Bay's allocation of overhead costs left a debit balance of $1500 in the Manufacturing Overhead account,which was adjusted to zero at year-end.What was the amount of gross profit earned during the year?

Quizplus · Accepted Answer

A)
Sales Revenue:
 11ea86ed_2c06_68ea_8b27_65e9f812e214_TB3056_00 Less: Cost of Goods Sold:
 11ea86ed_2c06_68eb_8b27_c3514c4dccda_TB3056_00

South Bay Manufacturing Began Business on January 1