Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answers 6A and 6B, thank you! from Jobs report below SG TO 15138010 from 5a) Aleb, 0986152T Calculate (multiply) 12.17 c) Calculate the Gross Margin

image text in transcribed

Answers 6A and 6B, thank you!

from Jobs report below SG TO 15138010 from 5a) Aleb, 0986152T Calculate (multiply) 12.17 c) Calculate the Gross Margin by subtracting total job costs from Sales Revenue. Note - The total Gross Margin will not agree with the Income Statement from CONNECT due to the over/under applied overhead as well as this Job Report does not include all the jobs for Superior during the period. d) Calculate Gross Margin percent as gross margin divided by sales revenue in the Jobs Report below. Sales Revenue Job Costs: Direct Material Direct Labor Overhead Total Job Costs Gross Margin Superior Company Jobs Report - Traditional OH allocation (Direct Labor Hours) Year Ending December 31 JV28 BY92 ZF14 Reference HORN 166,098, HUOLTSV From 5b) Ir you SSW65.no From 4a) 15,420 3800 From 4b) 19.500 106.600 From 4c) 254, 55005401142,970 Calculate for 4d) M1,000 1100518.8182,00 7.50 Calculate for Sc) 36.4b36,46936:4610] Calculate for 5d) Gross Margin % Use the traditional Jobs Report you completed to answer the following questions. Make sure your explanations are 10 to 20 words and are in complete sentences. a) Superior Company is finding it difficult to sell BY92. Does this Job Report provide any information that would assist in explaining the slump in sales? Why or why not? b) Should management have any preference about which job is sells more of? Why or why not

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Theory And Practice

Authors: C. William Thomas

1st Edition

0534013880, 978-0534013882

More Books

Students also viewed these Accounting questions

Question

What is human nature?

Answered: 1 week ago