Ask Question
22 August, 22:24

Newhard Company assigns overhead cost to jobs on the basis of 111% of direct labor cost. The job cost sheet for Job 313 includes $27,656 in direct materials cost and $10,400 in direct labor cost. A total of 1,550 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313?

+3
Answers (1)
  1. 22 August, 23:52
    0
    a. The total manufacturing cost assigned to Job 313 is $49,600

    b. The unit product cost for Job 313 is $32

    Explanation:

    a. The computation of the total manufacturing cost is shown below:

    = Direct materials cost + direct labor cost + overhead cost

    = $27,656 + $10,400 + 111% of direct labor cost

    = $27,656 + $10,400 + $11,544

    = $49,600

    b. The formula to be used for calculating the unit product cost which is shown below

    = Total manufacturing cost : number of units produced

    = $49,600 : 1,550 units

    = $32
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Newhard Company assigns overhead cost to jobs on the basis of 111% of direct labor cost. The job cost sheet for Job 313 includes $27,656 in ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers