sykes company has sales revenue of $585,700. Cost of goods sold before adjustment is $335,900. The company's actual manufacturing overhead is $92,000, while allocated manufacturing overhead is $104,400. What is the actual gross profit

Actual gross profit $262,200

Explanation:

The computation of the actual gross profit is as follows;

Allocated manufacturing overhead

$104,400

Actual manufacturing overhead

$92,000

Over applied manufacturing overhead

$12,400

Unadjusted cost of goods sold

$335,900

Less:

Over applied manufacturing overhead

($12,400)

Adjusted cost of goods sold

$323,500

Sales revenue

$585,700

Less:

Adjusted cost of goods sold

($323,500)

Actual gross profit

$262,200

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"