Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following selected data were taken from the bo

The following selected data were taken from the books of the Bixby Box Company. The...

80.2K

Verified Solution

Question

Accounting

The following selected data were taken from the books of the Bixby Box Company. The company uses job costing to account for manufacturing costs. The data relate to June operations. A) Materials and supplies were requisitioned from the stores clerk as follows: Job 405, material X, $7,000. Job 406, material X, $3,000; material Y, $6,000. Job 407, material X, $7,000; material Y, $3,200. For general factory use: materials A, B, and C, $2,300. B) Time tickets for the month were chargeable as follows: C) Other information: Factory paychecks for $36,700 were issued during the month. Various factory overhead charges of $19,400 were incurred on account. Depreciation of factory equipment for the month was $5,400. Factory overhead was applied to jobs at the rate of $3.50 per direct labor hour. Job orders completed during the month: Job 405 and Job 406. Selling and administrative costs were $2,100. Factory overhead is closed out only at the end of the year.

If Job 406 were sold on account for $41,500 how much gross profit would be recognized for the job?

$5,900

$3,800

$35,600

$18,500

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

AMicroprocessor Memory Bus: A microprocessor is clocked at a frequency of 3.75 GHz when communicating with...

Electrical Engineering
Q

A budget is a plan for using your money in a way that meets your...

Algebra
Q

57. Alfred E. Old and Beulah A. Crane, each age 42, married on...

Accounting
Q

On January 2020, Mina Company paid the national government a fee in the amount of...

Accounting
Q

Analysis reveals that a company had a net increase in cash of $20,770 for the...

Accounting
Q

Ramson Corporation is considering purchasing a machine that would cost $510,510 and have a useful...

Accounting
Q

Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the...

Accounting
Q

Question One (Word Limit: 250 words)

Accounting
Q

Meiji Isetan Corporation of Japan has two regional divisions with headquarters in Osaka and Yokohama....

Accounting
Q

You are a supply manager for a major distributor. The CEO has strongly encouraged that...

Accounting
Q

Based on predicted production of 34,000 units, a company anticipates $799,000 of fixed costs and...

Accounting
Q

SAMSUNG money, Rianna will report: A) no income B) $30,000.00 of taxable Income. C) $5,000.00...

Finance