Madison Inc. uses job order costing for its brand new line of sewing machines. The cost...
Madison Inc. uses job order costing for its brand new line of sewing machines. The cost incurred for production during 2019 totaled $18,000 of materials, $9,000 of direct labor costs, and $6,000 of manufacturing overhead applied. The company ships all goods as soon as they are completed which results in no finished goods inventory on hand at the end of any year. Beginning work in process totaled $15,000, and the ending balance is $9,000. During the year, the company completed 25 machines. How much is the cost per machine?
Homework Answers
Total cost incurred for 25 machine = Beginning work in process + direct material + direct labor + manufacturing overhead - ending inventory
= $15000 + 18000+9000+6000-9000
= $39000
Cost per machine =$39000/25
= $1560 per machine
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Madison Inc. uses job order costing for its brand new line of
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