Problem:
Job Materials Direct Labor
789 2,000 6,000
790 9000 10000
791 14000 8000
Uses job costing system was the only job in process Jan 1 with costs of 22,500. Direct matls and labor above was the only job in production as of Jan 31
Question: Compute cost of work in process as of Jan 31
Compute cost of jobs completed during Jan
Company sells all completed jobs, adding 40% markup to cost. how much should firm report as sales rev?