Homework Answers
Estimated manufacturing overheads = $400,000
Estimated machine hours = 10,000
Predetermined overhead rate = Estimated manufacturing overheads/Estimated machine hours
= 400,000/10,000
= $40 per machine hour
Actual machine hours used = 14
Manufacturing overheads applied = Actual machine hours used x Predetermined overhead rate
= 14 x 40
= $560
Direct material cost = $1,000
Direct labor cost = $1,500
Cost of goods sold = Direct material cost + Direct labor cost + Manufacturing overheads applied
= 1,000 + 1,500 + 560
= $3,060
Number of units sold = 12
Cost of goods sold per unit = Cost of goods sold/Number of units sold
= 3,060/12
= $255
Selling price per unit = $750
Gross profit per unit = Selling price per unit - Cost of goods sold per unit
= 750 - 255
= $495
Correct option is (D)
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