Ask Question
12 December, 08:03

If one unit of Product Z2 used $2.00 of direct materials and $3.40 of direct labor, sold for $11.00, and was assigned overhead at the rate of 25% of direct labor costs, how much gross profit was realized from this sale? (Round your intermediate calculations and final answer to two decimal places.)

+1
Answers (1)
  1. 12 December, 10:57
    0
    Gross profit = $4.75

    Explanation:

    Giving the following information:

    Product Z2:

    $2.00 of direct materials

    $3.40 of direct labor.

    sold for $11.00.

    Designated overhead at the rate of 25% of direct labor costs.

    Gross profit = sales - direct material - direct labor - manufacturing overhead

    Gross profit = 11 - 2 - 3.4 - (3.4*0.25) = $4.75
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “If one unit of Product Z2 used $2.00 of direct materials and $3.40 of direct labor, sold for $11.00, and was assigned overhead at the rate ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers