QRS Company manufactures tools on a job order basis wherein during the month of April 2021,...

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QRS Company manufactures tools on a job order basis wherein during the month of April 2021, three jobs were completed and sold. The following data relate to these three jobs: Direct Materials Prime Cost Overhead Cost Gross Profit Based Cost J501 80,000 170,000 180,000 20% 3502 70,000 150,000 160,000 25% 3503 50,000 135,000 170,000 15% Actual overhead cost incurred for the month, which is allocated to all jobs equally, totaled 495,000. Compute for the following: 13. CGS of J502 (after adjustment) 14. Total Net Income of QRS in April 2021 QRS Company manufactures tools on a job order basis wherein during the month of April 2021, three jobs were completed and sold. The following data relate to these three jobs: Direct Materials Prime Cost Overhead Cost Gross Profit Based Cost J501 80,000 170,000 180,000 20% 3502 70,000 150,000 160,000 25% 3503 50,000 135,000 170,000 15% Actual overhead cost incurred for the month, which is allocated to all jobs equally, totaled 495,000. Compute for the following: 13. CGS of J502 (after adjustment) 14. Total Net Income of QRS in April 2021

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To compute the cost of goods sold CGS of job 3502 we need to adjust the cost of goods sold based on ... View the full answer