Use the Following Information to Answer the Questions Below.

For The Month Ending December 31-st Our Business had the Following Information:

1. Beg Raw Materials Balance = $10,000
2. Direct Raw Materials Purchased=$100,000
3. Direct Raw Materials used into Job #1 =$25,000
4. Direct Materials Used into Job#2 =$45,000
5. In-Direct Raw Materials used into Production=$9,000
6. Direct Labor costs for Job#1=$6,000 and Job#2 =$14,000,
7. Indirect Labor costs=$7,000
8. Factory Rent Costs=$13,000, Accounting Costs = $33,000
9. Factory Equipment Costs = $43,000
10. Marketing Costs =$8,000
11. The Manufacturing Overhead Application Rate is 400% of Direct Labor Costs
12. Both Jobs were Finished and Sold at the end of the month with a 80% markup over cost

QUESTIONS:

Compute the Total Cost to Produce Job #1

Compute the Total Cost to Produce Job #2

Compute the Sales Revenues in Total for Both Jobs

Compute the Gross Profit in Total for Both Jobs

Compute the Net Income in Total for Both Jobs