Needham Company Uses a Job Order Cost System A)$6,800
B)$5,880
C)$1,280
D)$14,720

question 75

Multiple Choice

Needham Company uses a job order cost system. During the month of September, the company worked on three jobs. The job order cost sheets for the three jobs contained the following information at the end of September: The company applies overhead at 120% of direct labor cost.If Job B was sold for $16,000, what was the amount of gross margin for this job? (Ignore any consideration of underapplied or overapplied overhead.) $$\begin{array} { | l | r | r | r | } \hline & { \text { Job A } } & { \text { Job B } } & { \text { Job C } } \\\hline \text { Beginning Balances } & \$ 4,000 & \$ 3,000 & \$ 6,000 \\\hline \text { Direct Materials } & 1,000 & 1,600 & 2,000 \\\hline \text { Direct Labor } & 2,400 & 4,600 & 1,800 \\\hline\end{array}$$

• A)$6,800
• B)$5,880
• C)$1,280
• D)$14,720

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Definitions:

Correlation

A statistical measure that describes the extent to which two variables change together.

Percent Alive

The proportion, usually expressed as a percentage, of individuals in a population that are alive at a given time.

Electronically Activated Recorder

A device used to capture audio data within an environment, often used in research to record snippets of ambient sounds and conversations.

Participants' Privacy

Pertains to the protection and confidentiality of an individual's personal information, especially in the context of research or data collection.