The Mind Flayer makes custom-ordered, high-end filet mignon steaks. On November 1, 1983, it had one...

 

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The Mind Flayer makes custom-ordered, high-end filet mignon steaks. On November 1, 1983, it had one job started for The Hellfire Club, Inc. with a Beginning Work-in- Progress Inventory balance of $300. Direct Materials used for the job in November were $400 and direct labor used for the job was $250. Direct laborers are paid at a rate of $20 per hour. Manufacturing overhead is applied to production at a rate of $6 per direct labor hour. The company marks up costs 40% to determine the selling price. What was the selling price of the job that The Hellfire Club, Inc. had ordered? The Mind Flayer makes custom-ordered, high-end filet mignon steaks. On November 1, 1983, it had one job started for The Hellfire Club, Inc. with a Beginning Work-in- Progress Inventory balance of $300. Direct Materials used for the job in November were $400 and direct labor used for the job was $250. Direct laborers are paid at a rate of $20 per hour. Manufacturing overhead is applied to production at a rate of $6 per direct labor hour. The company marks up costs 40% to determine the selling price. What was the selling price of the job that The Hellfire Club, Inc. had ordered?