Question
Just for the Halibut, Inc. designs and manufactures custom made fishing rods. On June 1, it had one job started for Misterjaw with a beginning
Just for the Halibut, Inc. designs and manufactures custom made fishing rods. On June 1, it had one job started for Misterjaw with a beginning Work in Process balance of $525. During June the job was finished and sold. Direct labor for the job in June was $72 and direct materials used were $60. Direct laborers are paid a wage rate of $9 per hour and manufacturing overhead is applied to production at a rate of $15 per direct labor hour. The company marks up costs 35% to determine the selling price. What was the selling price of the job?
A.
$919.35
B.
$1,048.95
C.
$945.27
D.
$1,059.75
E.
$951.75
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