Yarmouth Steel Company, produces wrought iron products to order. For a particular job for 100 bolts,...
Yarmouth Steel Company, produces wrought iron products to order. For a particular job for 100 bolts, they expected to rework 5 bolts, and attribute the cost to the job. The job cost (prior to any adjustment for rework) was $1,200. Moreover, they had to rework 6 bolts. Rework costs were $18 for materials and $10 for labor. Yarmouth Steel Company applies overhead at the rate of 200% of labor cost.
Determine the cost per good bolt, after adjustments (if any) for the cost of rework.
Homework Answers
Total Cost = $1200 + ($18+10+20) = $1248
Cost per good bolt = $1248 / 100 = $12.48 per bolt
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Yarmouth Steel Company, produces wrought iron products to order.
For a particular job for 100 bolts,...
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