Jones Company worked on four jobs during its first year of operation: 401, 402, 403, and 404. 401 and 402 were completed by year-end, and no. 401 was...

Jones Company worked on four jobs during its first year of operation: nos. 401, 402, 403, and 404. Nos. 401 and 402 were completed by year-end, and no. 401 was sold at a profit of 40% of cost. A review of job no. 403's cost record revealed direct material charges of $20,000 and total manufacturing costs of $25,000.