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Determine the amount of gross profit earned on job

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Problem - 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 90% of direct Overhead Application Rate labor

Determine the amount of gross profit earned on job 101.

Reference no: EM132918469

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