Welcome to the article Exercise 2 8 Applying Overhead Cost Computing Unit Product Cost Newhard Company assigns overhead cost to jobs on the basis of 110 of direct labor. 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 $40,600, and the unit product cost for Job 313 is $29.
Explanation:
a. Total manufacturing cost assigned to Job 313:
To determine the total manufacturing cost assigned to Job 313, we need to calculate the overhead cost based on the direct labor cost. Since the company assigns overhead cost as 110% of direct labor cost, we can calculate the overhead cost by multiplying the direct labor cost by 110%:
Overhead cost = $10,100 x 110% = $11,110
Total manufacturing cost assigned to Job 313 = Direct materials cost + Direct labor cost + Overhead cost = $19,390 + $10,100 + $11,110 = $40,600
b. Unit product cost for Job 313:
To find the unit product cost for Job 313, we divide the total manufacturing cost assigned to Job 313 by the number of units produced:
Unit product cost = Total manufacturing cost assigned to Job 313 / Number of units produced
Unit product cost = $40,600 / 1,400 = $29
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Rewritten by : Brahmana