Brillant Design Company makes custom chairs for individual customers.On October 1, there was one job in process, Job 243, with a cost of $1,300.Jobs 244, 245, and 246 were started during the month of October.Data on costs added during the month are as follows:
Overhead is applied to production at the rate of 70% of direct labor cost.Job 245 was completed on October 14 and the client was billed at cost plus 55%.All other jobs remained in process.
What is the price of Job 245?
Definitions:
Euro Payable
A liability or obligation denominated in euros payable to a creditor or supplier.
Foreign Currency
Currency used outside the issuing country, not the domestic currency of the company conducting the financial transactions.
Foreign Exchange Gain
A profit resulting from changes in the exchange rate between the currency in which a transaction is denominated and the home currency.
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