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PLEASE HIGHLIGHT THE ANSWER Wrap Corporation is a job-order costing company. The...

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Accounting

PLEASE HIGHLIGHT THE ANSWER

Wrap Corporation is a job-order costing company.

The following information about the jobs was given for March:

Job 201

Job 202

Job 203

Job 204

Balance 3/1

$64,500

$40,250

$31,400

0

Direct materials

64,000

32,300

21,000

16,000

Direct labor

82,000

39,600

45,000

25,000

Allocated Overhead

164,000

79,200

90,000

50,000

Total 3/31 (???)

By March 31, Jobs 202 and 203 were completed. Job 203 was sold for $290,000, only sale for the month. The remaining jobs were still in process. There were no other job orders in any inventory account.

Question: The March gross profit was

A) $106,200
B) $102,800
C) $102,600
D) $102,400
Question: Wrap would use a Job Order system because they

A) Produce a low volume of very different units
B) Produce a large volume of similar units
C) Like to give the job orders different sounding names
D) Like to use a different color for each job order

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