Zeke Company is a manufacturing company that has worked on several production jobs during the 1st quarter of the year. Below is a list of all the jobs for the quarter:
| Balance | |
| Job 356 | $ 450 |
| Job 357 | $1,235 |
| Job 358 | $ 378 |
| Job 359 | $ 689 |
| Job 360 | $ 456 |
Job 356, 357, 358 & 359 were completed. Jobs 356 & 357 were sold at a profit of $500 on each job.
What is Sales for Zeke Company as of the end of the 1st quarter?
| $1,685 | ||
| $2,685 | ||
| $1,000 | ||
| $685 |
Answer: Sales for Zeke Company as of the end of the 1st quarter= $ 2685
Working notes for the above answer is as under
We have been provided that Jobs 356 & 357 were sold at a profit of $500 on each job and we need to find out Sales for Zeke Company as of the end of the 1st quarter and it will calculated as follow
| Balance | Add Prfit | Sales | |
| Job 356 | 450 | 500 | 950 |
| Job 357 | 1235 | 500 | 1735 |
| Total | 2685 |
So total sales for the first quarter is $ 2685
