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 34. 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 assigned to Job 313 is $57,750 and the unit product cost for Job 313 is $33.
Explanation:
In the given problem, the Newhard Company assigns overhead cost to jobs according to a rate of 117% of direct labor cost. In Job 313 we know that the direct labor cost is $10,700. Therefore, we can calculate the overhead cost as $10,700 x 1.17 = $12,519. The total manufacturing cost assigned to Job 313 is the sum of the direct materials costs, the direct labor costs, and the overhead costs. So, $34,531 (direct materials) + $10,700 (direct labor) + $12,519 (overhead) = $57,750 (total manufacturing cost). Next, to find the unit product cost for Job 313, we divide the total manufacturing cost by the total units produced. Hence, $57,750 / 1,750 units = $33 per unit.
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Rewritten by : Brahmana