Assume the Following Data for Graham Services, an Architecture Firm

question 7

Multiple Choice

Assume the following data for Graham Services, an architecture firm, for February: Beginning materials inventory
£ 20,000
Beginning work-in-progress inventory
40,000
Ending work-in-progress inventory
50,000
Ending materials inventory
10,000
Actual overhead costs
100,000
Direct materials used
60,000
Direct labour
200,000
What is the cost of services sold for February?

• A) £370,000
• B) £350,000
• C) £360,000
• D) £330,000

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Definitions:

Job Description

A list of the duties and responsibilities of a job holder.

Job Analysis

The process of studying and collecting information regarding the operations and responsibilities of a specific job.

Job Evaluation

A systematic process used to determine the relative worth of jobs within an organization by analyzing their responsibilities, requirements, and complexity.

Job Supervision

The act of overseeing and guiding employees' performance and productivity in their respective roles and tasks.