Welcome to the article Newhard Company assigns overhead cost to jobs on the basis of 117 of direct labor cost The job cost sheet for Job 313 includes 27. 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 :
a. The total manufacturing cost assigned to Job 313 is $49,300
.b. The unit product cost for Job 313 is $34.
Newhard Company uses the percentage of direct labor cost to assign overhead cost to jobs.
The direct labor cost is given for Job 313, which is $10,200.
Therefore, the manufacturing cost assigned to Job 313 is calculated as follows:
a. Manufacturing cost assigned to Job 313 = Direct materials cost + Direct labor cost + Overhead cost
= $27,166 + $10,200 + ($10,200 x 117%)
= $27,166 + $10,200 + $11,934
= $49,300
Therefore, the total manufacturing cost assigned to Job 313 is $49,300.
b. Unit product cost for Job 313 is calculated as follows:
Unit product cost = Total manufacturing cost / Number of units produced
= $49,300 / 1,450
= $34
The unit product cost for Job 313 is $34.
Therefore, the correct options are:
a. The total manufacturing cost assigned to Job 313 is $49,300.
b. The unit product cost for Job 313 is $34.
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Rewritten by : Brahmana