Twisto Pretzel: Under/over applied overhead.
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Twisto Pretzel Company disposes of under or over applied overhead at year-end as an adjustment to cost of goods sold. Prior to disposal, the firm reported cost of goods sold of $600,000 in a year when manufacturing overhead was overapplied by $18,000.
If sales revenue totaled $1,400,000, determine gross margin.
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Twisto Pretzel Company disposes of under or over applied overhead at year-end as an adjustment to cost of goods sold. Prior to disposal, the firm reported cost of goods sold ...
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