HiTech Housing
HiTech Housing Uses Job-Order Costing Sales Price Is Cost Plus 50% for Each of Its

question 6

Multiple Choice

HiTech Housing
HiTech Housing uses job-order costing. At the end of the month, the following data were gathered: $$\begin{array} { l l l l } \text { Job \# } & \text { Total Cost } & \text { Complete? } & \text { Sold? } \\529 & \$ 409 & \text { no } & \text { no } \\530 & \$ 513 & \text { yes } & \text { no } \\531 & \$ 115 & \text { no } & \text { no } \\532 & \$ 790 & \text { yes } & \text { yes } \\533 & \$ 650 & \text { yes } & \text { no } \\534 & \$ 540 & \text { no } & \text { no } \\535 & \$ 90 & \text { no } & \text { no } \\536 & \$ 970 & \text { yes } & \text { yes } \\537 & \$ 179 & \text { no } & \text { no } \\538 & \$ 400 & \text { no } & \text { no }\end{array}$$ Sales price is cost plus 50% for each of its houses.
-Refer to HiTech Housing. What is the selling price of Job 536?

• A) $790
• B) $970
• C) $1,185
• D) $1,455

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Definitions:

Wage Rate

the standard amount of compensation given for labor services per unit of time, often expressed per hour or year.

Lump Sum Payment

A single payment made at a particular time, as opposed to multiple payments over time, often used in contexts like settlements or pensions.

Labor Income

Earnings derived from work or employment, including wages, salaries, commissions, and bonuses.

Budget Line

A graphical depiction in economics that shows all possible combinations of two goods that can be purchased with a fixed amount of income.