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Homework answers / question archive / 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
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 |
