Figure 5-5. Brillant Design Company makes custom chairs for individual customers.On October 1,there was one job in process,Job 243,with a cost of $1,300.Jobs 244,245,and 246 were started during the month of October.Data on costs added during the month are as follows:
Overhead is applied to production at the rate of 70% of direct labor cost.Job 245 was completed on October 14 and the client was billed at cost plus 55%.All other jobs remained in process.
Refer to Figure 5-5.What is the price of Job 245?

Question

Figure 5-5. Brillant Design Company makes custom chairs for individual customers.On October 1,there was one job in process,Job 243,with a cost of $1,300.Jobs 244,245,and 246 were started during the month of October.Data on costs added during the month are as follows:
 Overhead is applied to production at the rate of 70% of direct labor cost.Job 245 was completed on October 14 and the client was billed at cost plus 55%.All other jobs remained in process.
Refer to Figure 5-5.What is the price of Job 245?

Quizplus · Accepted Answer

The Answer of Figure 5-5. Brillant Design Company makes custom chairs for individual customers.On October 1,there was one job in process,Job 243,with a cost of $1,300.Jobs 244,245,and 246 were started during the month of October.Data on costs added during the month are as follows:
 Overhead is applied to production at the rate of 70% of direct labor cost.Job 245 was completed on October 14 and the client was billed at cost plus 55%.All other jobs remained in process.
Refer to Figure 5-5.What is the price of Job 245?