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Newhard Company assigns overhead cost to jobs on the basis of 117% of direct labor cost
Newhard Company assigns overhead cost to jobs on the basis of 117% of direct labor cost. The job cost sheet for Job 313 includes $25,716 in direct materials cost and $10,200 in direct labor cost. A total of 1,450 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? a. Total manufacturing cost b. Unit product cost
Expert Solution
Solution
| Total Manufacturing Cost | $ 47,850.00 |
| Unit product cost | $ 33.00 |
Working
| Schedule of Total Manufacturing Cost | |
| Direct Material Cost | $ 25,716.00 |
| Direct labor Cost | $ 10,200.00 |
| Overhead applied (10200 x 117%) | $ 11,934.00 |
| Total Manufacturing Cost (25716+10200+11934) | $ 47,850.00 |
| No of units in job | 1450 |
| Unit product cost (47850/1450) | $ 33.00 |
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