Reference no: EM13823116
The financial records of LeRoi Jones Inc. were destroyed by fire at the end of 2014. Fortunately, the controller had kept certain statistical data related to the income statement as follows:
1. The beginning merchandise inventory was $93,800 and decreased 20% during the current year.
2. Sales discounts amount to $25,600.
3. 30,900 shares of common stock were outstanding for the entire year.
4. Interest expense was $28,400.
5. The income tax rate is 30%.
6. Cost of goods sold amounts to $529,000.
7. Administrative expenses are 20% of cost of goods sold but only 8% of gross sales.
8. Four-fifths of the operating expenses relate to sales activities.
6. A company assigns overhead cost to completed jobs on the basis of 120% of direct labor cost. The job cost sheet for Job 413 shows that $24,810 in direct materials has been used on the job and that $10,200 in direct labor cost has been incurred. A total of 1,350 units were produced in Job 413.
Required:
a. What is the total manufacturing cost assigned to Job 413?
b. What is the unit product cost for Job 413?
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: The financial records of LeRoi Jones Inc. were destroyed by fire at the end of 2014. Fortunately, the controller had kept certain statistical data related to the income statement as follows: The beginning merchandise inventory was $93,800 and decreas..
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