How much gross profit was realized from this sale on this general accounting question? If one unit of Product X5 used $3.20 of direct materials and $4.50of direct labor, sold for $12.00, and was assigned overhead at therate of 40% of direct labor costs, how much gross profit wasrealized from this sale?A. $4.50B. $2.50C. $1.80D. $3.30

Step 1: Define Gross ProfitGross profit is the difference between the sales revenue and the total…

Answered: If one unit of Product X5 used $3.20 of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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If one unit of Product X5 used $3.20 of direct materials and $4.50 of direct labor, sold for $12.00, and was assigned overhead at the rate of 40% of direct labor costs, how much gross profit was realized from this sale? A. $4.50 B. $2.50 C. $1.80 D. $3.30