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True [87]
3 years ago
14

Sales revenue is​ $725,700; allocated manufacturing overhead is​ $95,100; actual manufacturing overhead is​ $120,500; and cost o

f goods sold before adjustment is​ $380,300. What is the actual gross​ profit?
Business
1 answer:
yKpoI14uk [10]3 years ago
8 0

Answer:

$320,000

Explanation:

if allocated overhead was $95,100 and actual overhead was $120,500, then overhead costs were under allocated by $25,400 (= $120,500 - $95,100) and that must be added to cost of goods sold in order to determine the actual gross profit.

total sales revenue = $725,700

<u>total COGS = $380,300 + $25,400 = ($405,700)</u>

gross profit = $320,000

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