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At the Beginning of the Year,Berkshire Manufacturing Had the Following

Question 160

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At the beginning of the year,Berkshire Manufacturing had the following account balances: At the beginning of the year,Berkshire Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l | } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 301,000 \\ \hline \text { Manufacturing overhead allocated to production } & 294,000 \\ \hline \text { Cost of jobs completed and transferred } & 502,000 \\ \hline \text { Total revenue } & 752,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 448,000 \\ \hline \end{array} Calculate the gross profit Berkshire will report for the year. A) $250,000 B) $297,000 C) $304,000 D) $455,000 At the beginning of the year,Berkshire Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l | } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 301,000 \\ \hline \text { Manufacturing overhead allocated to production } & 294,000 \\ \hline \text { Cost of jobs completed and transferred } & 502,000 \\ \hline \text { Total revenue } & 752,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 448,000 \\ \hline \end{array} Calculate the gross profit Berkshire will report for the year. A) $250,000 B) $297,000 C) $304,000 D) $455,000 At the beginning of the year,Berkshire Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l | } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 301,000 \\ \hline \text { Manufacturing overhead allocated to production } & 294,000 \\ \hline \text { Cost of jobs completed and transferred } & 502,000 \\ \hline \text { Total revenue } & 752,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 448,000 \\ \hline \end{array} Calculate the gross profit Berkshire will report for the year. A) $250,000 B) $297,000 C) $304,000 D) $455,000 At the beginning of the year,Berkshire Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l | } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 301,000 \\ \hline \text { Manufacturing overhead allocated to production } & 294,000 \\ \hline \text { Cost of jobs completed and transferred } & 502,000 \\ \hline \text { Total revenue } & 752,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 448,000 \\ \hline \end{array} Calculate the gross profit Berkshire will report for the year. A) $250,000 B) $297,000 C) $304,000 D) $455,000 At the beginning of the year,Berkshire Manufacturing had the following account balances: The following additional details are provided for the year: \begin{array} { | l | l | } \hline \text { Direct materials placed in production } & \$ 80,000 \\ \hline \text { Direct labor incurred } & 192,000 \\ \hline \text { Manufacturing overhead incurred } & 301,000 \\ \hline \text { Manufacturing overhead allocated to production } & 294,000 \\ \hline \text { Cost of jobs completed and transferred } & 502,000 \\ \hline \text { Total revenue } & 752,000 \\ \hline \text { Cost of goods sold (before adjustment) } & 448,000 \\ \hline \end{array} Calculate the gross profit Berkshire will report for the year. A) $250,000 B) $297,000 C) $304,000 D) $455,000 The following additional details are provided for the year:
 Direct materials placed in production $80,000 Direct labor incurred 192,000 Manufacturing overhead incurred 301,000 Manufacturing overhead allocated to production 294,000 Cost of jobs completed and transferred 502,000 Total revenue 752,000 Cost of goods sold (before adjustment)  448,000\begin{array} { | l | l | } \hline \text { Direct materials placed in production } & \$ 80,000 \\\hline \text { Direct labor incurred } & 192,000 \\\hline \text { Manufacturing overhead incurred } & 301,000 \\\hline \text { Manufacturing overhead allocated to production } & 294,000 \\\hline \text { Cost of jobs completed and transferred } & 502,000 \\\hline \text { Total revenue } & 752,000 \\\hline \text { Cost of goods sold (before adjustment) } & 448,000 \\\hline\end{array} Calculate the gross profit Berkshire will report for the year.


A) $250,000
B) $297,000
C) $304,000
D) $455,000

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