1. The cost sheets for Job 201 and Job 202 are as follows:
Job 201 Job 202 Total
Direct materials $49,900 $25,300 $75,200
Direct labor 40,900 14,300 55,200
Overhead applied 39,920 20,240 60,160
Total costs $130,720 $59,840 $190,560
2. Gross profit for the sale of Job 201 = $38,140 ($168,860 - $130,720)
Data and Calculations:
Cost of raw materials purchased = $101,700
Job 201 Job 202 Total
Direct materials $49,900 $25,300 $75,200
Direct labor 40,900 14,300 55,200
Overhead applied 39,920 20,240 60,160
Total costs $130,720 $59,840 $190,560
Sales $168,860
Gross profit $38,140
Thus, the cost of Job 201 sold is $130,720 with a gross profit of $38,140.
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