Question
The following information applies to Job 730 completed by Franklin Manufacturing Company during October 2017. The amount of labor cost for the job was $74,100.
The following information applies to Job 730 completed by Franklin Manufacturing Company during October 2017. The amount of labor cost for the job was $74,100. Applied overhead amounted to $112,000. The project was completed and delivered to Hudson Company at a contract price of $320,000. Franklin recognized a gross profit of $53,400 on the job.
Required
Determine the amount of raw materials used to complete Job 730.
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
