Welcome to the article Newhard Company assigns overhead cost to jobs based on 115 of direct labor cost The job cost sheet for Job 313 includes 15 745 in. On this page, you will learn the essential and logical steps to better understand the topic being discussed. We hope the information provided helps you gain valuable insights and is easy to follow. Let’s begin the discussion!
Answer :
Final answer:
The total manufacturing cost for Job 313 is $38,750, found by adding direct materials, labor, and computed overhead costs. The unit product cost for Job 313 is $25 per unit, calculated by dividing the total cost by the number of units produced.
Explanation:
To calculate the total manufacturing cost assigned to Job 313, we need to add the direct materials cost, the direct labor cost, and the overhead cost which is based on a percentage of the direct labor cost. The formula to calculate overhead cost is (Overhead Rate x Direct Labor Cost). In this case, the overhead cost is 115% of the direct labor cost. Therefore, the overhead cost can be calculated as follows:
Overhead Cost = 115% of Direct Labor Cost
= 1.15 x $10,700
= $12,305
Now, we can add all the costs to find the total manufacturing cost:
Total Manufacturing Cost = Direct Materials Cost + Direct Labor Cost + Overhead Cost
= $15,745 + $10,700 + $12,305
= $38,750
The unit product cost is the total manufacturing cost divided by the number of units produced. Calculating this we get:
Unit Product Cost = Total Manufacturing Cost / Number of Units Produced
= $38,750 / 1,550
= $25 per unit
Thus, the total manufacturing cost assigned to Job 313 is $38,750 and the unit product cost for Job 313 is $25 per unit.
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- What is the perimeter of the figure 32 0cm 51 0cm 19 0cm 63 0cm.
- The sign shows when a lift is safe to use the total mass of people should be 480 kg or less Fred and some other.
- The sign shows when a lift is safe to use the total mass of people should be 480 kg or less Fred and some other
Rewritten by : Brahmana
Answer:
Results are below.
Explanation:
First, we need to allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 1.15*10,700= $12,305
Now, we can determine the total manufacturing cost:
Total manufacturing cost= 15,745 + 10,700 + 12,305
Total manufacturing cost= $38,750
Finally, the unitary cost:
Unitary cost= 38,750 / 1,550
Unitary cost= $25