Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 $75 and direct materials used were $60. Direct laborers are paid a wage rate of $15 per hour and manufacturing overhead is applied to production at a rate of $9 per direct labor hour. The company marks up costs 35% to determine the selling price. What was the selling price of the job?

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

Accounting Principles A Business Perspective

Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher

1st Edition

1680921851, 978-1680921854

More Books

Students also viewed these Accounting questions