Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 38,000 direct labor-hours, total fixed manufacturing overhead cost of $243,200, and a variable manufacturing overhead rate of $5.00 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data:
Total direct labor hours: 250
Direct Materials: $500
Direct Labor Cost: $6,500
Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round intermediate calculations and final answer to 2 decimal places.)
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Homework Answers
Predetermine overhead rate = (243200/38000+5) = 11.40 per hour
Calculate selling price of Job
| Direct material | 500 |
| Direct labor | 6500 |
| Overhead (250*11.40) | 2850 |
| Total job Cost | 9850 |
| Markup (9850*20%) | 1970 |
| Selling price Job | 11820 |
| Unit | 50 |
| Selling price per unit | 236.40 |
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Mcewan Corporation uses a job-order costing system with a single
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Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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