Welcome to the article Willis Company assigns overhead cost to jobs on the basis of 125 of direct labor cost The job cost sheet for Job 313 includes 10. 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 :
The unit product cost for job 313 is $37.
Giving the following information:
Willis Company assigns overhead costs to jobs based on 125% of direct labor costs.
The job cost sheet for Job 313 includes $10,000 in direct materials costs and $12,000 in direct labor costs.
A total of 1,000 units were produced in Job 313.
First, we will calculate the manufacturing cost by the given formula:
manufacturing costs= direct materials + direct labor + manufacturing overhead
manufacturing cost = 10000 + 12000 + (12000*1.25)
= 10000 + 12000 + 15000
= $37,000
Now we will calculate the unit product cost,
Unit Product Cost = Total Cost / Number of Units
= $37,000/ 1,000 units
= $37
Therefore, the unit product cost for job 313 is $37.
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Rewritten by : Brahmana