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South Bay Manufacturing began business on January 1 . During its first year of operation, South Bay worked on five industrial jobs and reported the
South Bay Manufacturing began business on January During its first year of operation, South Bay worked on five industrial jobs and reported the following information at yearminusend:
Job
Job
Job
Job
Job
Direct Materials
$ comma
$ comma
$
$
$
Direct Labor
$ comma
$ comma
$
$
$
Allocated Mfg Overhead
$ comma
$ comma
$
$
$
Job completed:
Jun
Sep
Oct
Nov
Not completed
Job sold:
Jul
Sep
Not sold
Not sold
NA
Revenues:
$ comma
$ comma
NA
NA
NA
South Bay's allocation of overhead costs left a debit balance of $ comma in the Manufacturing Overhead account, which was adjusted to zero at yearminusend. What was the amount of gross profit earned during the year?
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