a. The total manufacturing cost assigned to Job 313 is $37,000
b. The unit product cost for Job 313 is $37
Explanation:
a. The total manufacturing cost = Direct materials cost + direct labor cost + overhead cost
= $10,000 + $12,000 + 125% of direct labor cost
= $10,000 + $12,000 + ($12,000 x 125%)
= $10,000 + $12,000 + $15,000
= $37,000
b. The unit product cost = Total manufacturing cost ÷ number of units produced
= $37,000 ÷ 1,000 units
= $37
Total manufacturing cost = Direct Materials + Direct Labor + Overhead applied = 10,000 + 12,000 + (12,000*125%) = 10,000 + 12,000 + 15,000 = 37,000 |
Unit product cost = Total manufacturing cost/Units produced = 37,000/1,000 = 37 |
Newhard Company assigns overhead cost to jobs on the basis of 125% of direct labor cost....
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