Fletcher Company disposes of under- or over-applied overhead at year-end as anadjustment to cost of goods sold. Prior to disposal, the firm reported cost ofgoods sold of $590,000 in a year when manufacturing overhead wasunder-applied by $15,000. If sales revenue totaled $1,400,000, determine (1) Fletchers adjusted cost of goods sold and (2) gross margin. Adjusted Cost Gross Marginof Goods Sold A. $575,000 $810,000B. $575,000 $825,000C. $590,000 $810,000D. $605,000 $795,000E. $605,000 $810,000
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