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 $1400 in the Manufacturing Overhead account, which was adjusted to zero at year-end. What was the amount of gross profit earned during the year?
A) $26,700
B) $2400
C) $28,100
D) $22,900
A) $26,700
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In a statement of work the scope is used to define the requirements of a project down to the smallest details
Indicate whether the statement is true or false