Jacob Manufacturing Corp's Job 402 for the manufacture of 2,000 coats, which was completed during May at the unit costs as follows (SEE PICTURE BELOW): Final inspection of Job 402 disclosed 200 spoiled coats which were sold to a local jobber for P57.50 per unit. If the spoilage is normal and common to all jobs, what was the total sales if gross profit is 1/3 of cost? * O Direct materials P 27.00

Jacob Manufacturing Corp's Job 402 for the manufacture of 2,000 coats, which was completed during May at the unit costs as follows (SEE PICTURE BELOW): Final inspection of Job 402 disclosed 200 spoiled coats which were sold to a local jobber for P57.50 per unit. If the spoilage is normal and common to all jobs, what was the total sales if gross profit is 1/3 of cost? * O Direct materials P 27.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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