The following information applies to Job 730 completed by Sweeny Manufacturing Company during October 2013. The amount of labor cost for the job was $89,850. Applied overhead amounted to $105,000. The project was completed and delivered to Perez Company at a contract price of $303,000. Sweeny recognized a gross profit of $50,400 on the job. Required: Determine the amount of raw materials used to complete Job 730.
The following information applies to Job 730 completed by Sweeny Manufacturing Company during October 2013. The amount of labor cost for the job was $89,850. Applied overhead amounted to $105,000. The project was completed and delivered to Perez Company at a contract price of $303,000. Sweeny recognized a gross profit of $50,400 on the job. Required: Determine the amount of raw materials used to complete Job 730.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following information applies to Job
730 completed by Sweeny Manufacturing
Company during October 2013. The
amount of labor cost for the job was
$89,850. Applied overhead amounted to
$105,000. The project was completed and
delivered to Perez Company at a contract
price of $303,000. Sweeny recognized a
gross profit of $50,400 on the job.
Required:
Determine the amount of raw materials
used to complete Job 730.
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