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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
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 JobA $4,100 1,100 2,500 Job B $3,100 1,700 4,700 Job C $6,100 2,100 1,900 The company applies overhead at 125% of direct labor cost. If Job B was sold for $17,000, what was the amount of gross margin for this job? (Ignore any consideration of underapplied or overapplied overhead.) Multiple Choice O $7,500 O $6,425 O $15,375 O O $1,625
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