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.

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 4E: The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the...
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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.
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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