Question

Wolfpack Company uses job-order costing. At the end of the month, the following data was gathered: Job # Total Cost Complete? Sold? 803 $611 yes yes 804 423 yes no 805 805 no no 806 682 yes yes 807 525 yes no 808 250 no no 809 440 yes yes 810 773 yes no 811 267 no no 812 341 no no Wolfpack’s selling price is cost plus 50% for each of its jobs. What is the selling price of Job 806?

Answer 1

$1,023

Step-by-step explanation:

The computation of the selling price of Job 806 is given below:-

Total cost of JOB 806 = $682

Selling price of the cost = 100 + 50

= 150%

Selling price = Total cost of JOB 806 × Selling price of the cost Percentage

= $682 × 150%

= $1,023

Therefore for computing the selling price we simply multiply the total cost of JOB 806 with selling price of the cost percentage.