Job 222 Started on June 1 and Finished on July

question 180

Multiple Choice

Job 222 started on June 1 and finished on July 15. Total cost on July 1 was $12,700, and the costs added in July were $188,800. The entry for the sale at a price of $310,500 would be:

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Definitions:

Contribution Margin Percentage

The ratio of contribution margin (sales revenue minus variable costs) to total sales revenue, expressed as a percentage.

Variable Cost Per Unit

The cost that varies with the level of output or sales, calculated on a per-unit basis.

Selling Price Per Unit

The price at which a single unit of a product is sold to customers, not including discount or additional fees.

Unit Contribution Margin

The difference between the selling price per unit and the variable cost per unit, indicating how much each unit contributes to covering fixed costs.