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Q. 17-22E-d

Horngren'S Financial And Managerial Accounting
Found in: Page 944

Short Answer

June production generated the following activity in Bentley Chassis Company’s Work-in-Process Inventory account:

June 1 balance


Direct materials used


Direct labor assigned to jobs


Manufacturing overhead allocated to jobs


Additionally, Bentley Chassis has completed Jobs 142 and 143, with total costs of

$37,000 and $48,000, respectively.


4. What is the gross profit on Job 143?

The gross profit earned on Job 143 is $15,000

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Step by Step Solution

Gross profit

Gross profit means the income of the company after paying all the direct expenses related to the manufacturing of the goods. It is a financial term used for determining the profitability of the company.

Calculation of gross profit

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