Fletcher, Inc

question 32

Multiple Choice

Fletcher, Inc. disposes of under- or overapplied overhead at year-end as an adjustment to cost of goods sold. Prior to disposal, the firm reported cost of goods sold of $590,000 in a year when manufacturing overhead was underapplied by $15,000. If sales revenue totaled $1,400,000, determine (1) Fletcher's adjusted cost of goods sold and (2) gross margin.

• A) Choice A
• B) Choice B
• C) Choice C
• D) Choice D
• E) Choice E

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