Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Needham Company uses a job-order costing system. During the month of September, the company worked on three jobs. The job order cost sheets for the

image text in transcribed
Needham Company uses a job-order costing system. During the month of September, the company worked on three jobs. The job order cost sheets for the three jobs contained the following information at the end of September Beginning Balances Direct Materials Direct Labor Job $5,600 2,600 4,000 Job B $4,600 3,200 6,200 Job C $7,600 3,600 3,400 es The company applies overhead at 125% of direct labor cost. Job B was sold for $32,000, what was the amount of gross margin for this job? (Ignore any consideration of underapplied or overapplied overhead.) Multiple Choice $18,050 $18.000

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

Artificial Intelligence In Accounting Organisational And Ethical Implications

Authors: Othmar M. Lehner, Carina Knoll

1st Edition

1032055626, 9781032055626

More Books

Students also viewed these Accounting questions

Question

2. Listen to family members, and solve problems with them.

Answered: 1 week ago

Question

3. Give examples of four fair disciplinary practices.

Answered: 1 week ago

Question

4. Explain how to use fair disciplinary practices.

Answered: 1 week ago