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Determine the amount of gross profit earned on job

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Reference no: EM132906864

Question - Marshall Corp. uses a job order cost accounting system and worked only on Job 101 during the current period. Job 101 was sold for $460,000. The following information pertains to costs incurred for Job 101.

Direct Materials $90,000

Indirect Materials $30,000

Direct Labor $130,000

Indirect Labor $75,000

Depreciation of Machinery $10,000

Factory Supplies $8,000

Overhead Application Rate 90% of direct labor

Required - Determine the amount of gross profit earned on Job 101.

Reference no: EM132906864

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