Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Just for theHalibut, Inc. designs and manufactures custom made fishing rods. On June1, it had one job started with a beginning Work in Process balance
Just for theHalibut, Inc. designs and manufactures custom made fishing rods. On June1, it had one job started with a beginning Work in Process balance of $521
521. 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 $10
10 per direct labor hour. The company marks up costs35% to determine the selling price. What was the selling price of thejob?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started