Welcome to the article Newhard Company assigns overhead cost to jobs on the basis of 115 of direct labor cost The job cost sheet for Job 313 includes 24. 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 :
According to the question, the cost will be:
a) The total manufacturing cost assigned to job 313 is $33,849.15.
b) The unit product cost for job 313 is $23.35.
What is cost?
Cost is the amount of money that must be paid in exchange for a product or service. It is the total expense associated with obtaining, using, and disposing of a good or service. Cost can be measured in monetary terms, but it can also encompass the time and effort required to acquire the good or service.
A.This is calculated by adding the direct materials cost ($24,415) to the direct labor cost ($10,900) and then multiplying the sum of these two ($35,315) by 115% to get the total manufacturing cost of $33,849.15.
B. This is calculated by dividing the total manufacturing cost assigned to job 313 ($33,849.15) by the total number of units produced in job 313 (1,450) to get the unit product cost of $23.35.
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Rewritten by : Brahmana