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At January 1, 2820, Betty DeRose, Inc. reported work in process totaling $18,670 This balance was made up of three jobs having the following costs:
At January 1, 2820, Betty DeRose, Inc. reported work in process totaling $18,670 This balance was made up of three jobs having the following costs: Job #171 Job #236 Job #412 7,91 total cost at Jan. 1, 2e2e During 202e, Betty DeRose reported the following transactions: a. Direct materials used were: Job #171, $6, 7ee; Job #236, $4,100; and $6,37e Job #412, $3,900. b. Direct labor incurred was: Job #171, $5,eee; Job #236, $2,800; and Job #412, $3,000. c. overhead was applied to jobs at a rate of 85% of direct labor cost. d. Job #171, which consisted of 150 units, was completed and transferred to the finished goods warehouse. e. Job #412, which consisted of 250 units, was completed and transferred to the finished goods warehouse. f. 55 units from Job #171 were sold and shipped to the customer; the 55 units were sold at a total selling price of $12,eee. g. The actual overhead cost incurred during 2820 amounted to $10,8e8. calculate the amount of gross profit reported in Betty DeRose's income statement for 2020
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