Welcome to the article Newhard Company assigns overhead cost to jobs based on 113 of the direct labor cost The job cost sheet for Job 313 includes 33 848. 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 $55,980. The unit product cost for Job 313 is $34.99.
Explanation:
To calculate the total manufacturing cost assigned to Job 313, we need to determine the overhead cost. Newhard Company assigns overhead cost to jobs on the basis of 113% of direct labor cost. In this case, the direct labor cost for Job 313 is $10,400. So, the overhead cost would be 113% * $10,400 = $11,732. Now, we can calculate the total manufacturing cost by adding the direct materials cost, direct labor cost, and overhead cost: $33,848 + $10,400 + $11,732 = $55,980.
To calculate the unit product cost for Job 313, we divide the total manufacturing cost by the number of units produced. In this case, 1,600 units were produced in Job 313. So, the unit product cost would be $55,980 / 1,600 = $34.99.
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Rewritten by : Brahmana