Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Joney-Bologna, Inc. makes custom-ordered, high-end sandwiches. On July 1 , it had one job started for Kayla and Associates, Inc. with a Beginning Work-in-Progress Inventory

image text in transcribed
Joney-Bologna, Inc. makes custom-ordered, high-end sandwiches. On July 1 , it had one job started for Kayla and Associates, Inc. with a Beginning Work-in-Progress Inventory balance of $300. Direct Labor for the job in July was $50 and direct materials used for the job costed $75. Direct laborers are paid at a rate of $10 per hour. Manufacturing overhead is applied to production at a rate of $6 per direct labor hour. The company marks up costs 20% to determine the selling price. What was the selling price of the job that Kayla and Associates, Inc. had ordered? $186$564$455$582$546

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

Quality Audit In Health Care To Avoid Disallowances Literature Review

Authors: Ana P. Alves De Asevedo

1st Edition

6206120406, 978-6206120407

More Books

Students also viewed these Accounting questions

Question

What lessons in OD contracting does this case represent?

Answered: 1 week ago

Question

Does the code suggest how long data is kept and who has access?

Answered: 1 week ago