Homework Answers
Job C 62 completed for a total cost $ 142000 and sold for $158000
Job C 63 completed for a total cost $180,000 and sold for $ 210,000
Job c 64 completed for a total cost $82,000 but not sold as year end .
Then profit from Job C 62 is
Profit = selling price - total cost
Job C 62 is = $158,000-$142000 = 16000
Job C 63 is = $ 210000-$180,000= $30,000
Job C 64 is not sold during a year then 0
Total profit is $16,000+$30,000= $46,000
Then option 4 is correct answer of $ 46,000 is Gross profit.
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