Adams and O'Sullivan, plumbers, successfully bid $30,000 for the plumbing work on a new luxury home. Total

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Adams and O'Sullivan, plumbers, successfully bid $30,000 for the plumbing work on a new luxury home. Total direct labor cost on the job was $9,500, other direct costs were $2,500, and overhead is charged to jobs at 150% of direct labor cost.

1. Compute the profit or loss on the job in

(a) Dollars and

(b) As a percentage of the bid price.

2. Express labor and overhead as a percentage of total costs.

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Principles of Cost Accounting

ISBN: 978-1133187868

16th edition

Authors: Edward J. Vanderbeck

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Question Posted: May 05, 2014 11:18 AM

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Adams and O'Sullivan, plumbers, successfully bid $30,000 for the plumbing work on a new luxury home. Total

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1 Job cost Direct labor 9500 Other direct 25...View the full answer

Principles of Cost Accounting

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