Welcome to the article Newhard Company assigns overhead cost to jobs on the basis of 114 of direct labor cost The job cost sheet for Job 313 includes 13. 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 total manufacturing cost assigned to Job 313 is $36,450.
The unit product cost for Job 313 is $27.
To calculate the total manufacturing cost assigned to Job 313 and the unit product cost, we need to use the given information and apply the overhead cost allocation method.
a. Total manufacturing cost assigned to Job 313:
The overhead cost is calculated as a percentage of the direct labor cost. Given that the overhead cost is 114% of the direct labor cost and the direct labor cost for Job 313 is $10,900, we can calculate the overhead cost as follows:
Overhead Cost = 114% of Direct Labor Cost
= 114/100 * $10,900
= $12,426
The total manufacturing cost assigned to Job 313 includes direct materials cost, direct labor cost, and overhead cost:
Total Manufacturing Cost = Direct Materials Cost + Direct Labor Cost + Overhead Cost
= $13,124 + $10,900 + $12,426
= $36,450
Therefore, the total manufacturing cost assigned to Job 313 is $36,450.
b. Unit product cost for Job 313:
To calculate the unit product cost, we divide the total manufacturing cost assigned to Job 313 by the number of units produced:
Unit Product Cost = Total Manufacturing Cost / Number of Units Produced
= $36,450 / 1,350
= $27 per unit
Therefore, the unit product cost for Job 313 is $27.
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Rewritten by : Brahmana