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 28. 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 $51,150, which includes $28,680 in direct materials cost, $10,500 in direct labor cost, and an overhead cost calculated at 114% of the direct labor cost.
Explanation:
The total manufacturing cost assigned to Job 313 can be calculated by summing the direct materials cost, direct labor cost, and overhead cost. Since the overhead cost is assigned on the basis of 114% of direct labor cost, we can calculate it as follows:
Overhead Cost = 114% of Direct Labor Cost = 1.14 × $10,500 = $11,970
Now sum up all the costs to get the total manufacturing cost assigned to Job 313:
Total Manufacturing Cost = Direct Materials Cost + Direct Labor Cost + Overhead Cost = $28,680 + $10,500 + $11,970 = $51,150
Therefore, the total manufacturing cost assigned to Job 313 is $51,150.
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Rewritten by : Brahmana