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Please help! this is cost accounting The folowing selected data wore taken from the books of the Owens O-Rings Conpary. The company uses job costing
Please help! this is cost accounting
The folowing selected data wore taken from the books of the Owens O-Rings Conpary. The company uses job costing to account for manulscturing costs. The dsta relate to Apri operations: (8) Materials and supplies were requisiticned from the stores clork as follows: 106405 , mbterial X, $8,000. Job 406, moterial X, $4,000; material Y, $7,000 Job 407 . muterial X $8,000; material Y, $4,200. For general factory use: materlals A, B, and C, 53,300 . (2) Time vickets for the month were chargeable as follows: (3) Other iefomation: Factory paychecks for $37,700 were issued during the month Various foctory overhead charges of $20,400 were incurted on accours. Depreciation of tactory equipanent for the month was $6,400. Factory overhead was applied to jobs ot the rate of $420 per direct lobor hour. Job cribers completed during the montr. Job 405 and Job 406. Seling and administrave conts were $3,00. Factory overhesd is clowed ovi onty at the end of the yeas. If Job 406 was sold on sccoumt for $51,500, how much gross prota would be recognued for the job? uripie choke 124.600 so.no. 545320 Step by Step Solution
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