Taylor Corp.uses a job order costing 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. Determine the amount of gross profit earned on Job 101.

Question

Taylor Corp.uses a job order costing 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.  Determine the amount of gross profit earned on Job 101.

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The Answer of Taylor Corp.uses a job order costing 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.  Determine the amount of gross profit earned on Job 101.