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 $1,100 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 $1,100 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:
 11ea8a42_4f8b_fbbd_8b44_2790d26f5ca7_TB5024_00 Less: Cost of Goods Sold:
 11ea8a42_4f8b_fbbe_8b44_4ffcf4baa8e2_TB5024_00

South Bay Manufacturing Began Business on January 1