Solution-What the company gross margin for the period was

What the company gross margin for the period was

Assignment Help Managerial Accounting

Reference no: EM132533678

Jack Manufacturing uses a job-order costing system, and overhead is applied on the basis of direct labor hours. At the beginning of the period, the company estimated that overhead would be $65,000 and 10,000 direct labor hours would be worked. Two projects were started and completed in the current accounting period. The following transactions were completed during the period:

(a) Used $10,100 of direct material on Project I and $6,900 of direct material on Project II.

(b) Labor costs for the two jobs amounted to the following: Project I, $24,500 (2,050 hours); Project II, $44,500 (6,100 hours).

Question 1: The company's gross margin for the period was: Avoid rounding your immediate calculation

Multiple Choice

Option 1: $29,950.

Option 2: $18,150.

Option 3: $91,050.

Option 4: $70,950.

Reference no: EM132533678

Questions Cloud

Describe the project and the mitigation plan : Recall a project that you considered at one time but decided against during the initiation phase because the risks were too great or the mitigation plan was.

Why beneficial to develop and use pre-applied overhead rate : Why is it beneficial to develop and use pre-applied overhead rates? How are they calculated and why does this often cause OH to be over or under applied?

Evaluate potential business level strategies : You will be evaluating various strategies and making recommendations for Hawaii Telcom. Evaluate potential business level strategies for the organization,

What are some of the industry-standard certifications : There are many mobile platform vulnerabilities. Which one do you feel is the greatest threat to users? Do you agree that people generally are not aware.

What the company gross margin for the period was : What The company gross margin for the period was? Jack Manufacturing uses a job-order costing system, and overhead is applied

Business level strategy and corporate level strategy : Discuss the differences and relationship between a business level strategy and a corporate level strategy.

What input and output devices are specifically created : What input and output devices are specifically created to help the visually impaired use a computer? What would be the privacy concerns of visually impaired.

Compute product costs per unit for products x : Compute product costs per unit for Products X and Y using the current indirect cost rate based on machine hours for manufacturing support cost.

What programming language vulnerable to given type of attack : What methods can me employed to prevent a security breach? What programming languages are vulnerable to this type of attack.

User Account

All Pages

What the company gross margin for the period was

Reference no: EM132533678

Reference no: EM132533678

Questions Cloud

Reviews

Write a Review

Managerial Accounting Questions & Answers

Manage budgets and financial plans

Prepare a retained earnings statement

Prepare a master budget for the three-month period

Construct the companys direct labor budget

Evaluate the predetermined overhead rate

Determine the company''s bid

Compute the pool rates for the different activities

Prepare Company financial statements

Prepare an analysis of terracycles

Discuss the ethical issues

Political resources in emerging markets

Management accounting - ehsan electronics company

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT