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A corporation manufactures a specialty line of dresses using a job-order costing system
A corporation manufactures a specialty line of dresses using a job-order costing system. During January, the following costs were incurred in completing job J-1: Direct labor 42,000 Direct materials 54,600 Administrative costs 5,000 Selling costs 31,500
Factory overhead was applied at the rate of $24 per direct labor hour, and job J-1 required 250 direct labor hours. If job J-1 resulted in 1,200 good dresses, the cost of goods sold per unit is:
Answer: (round to nearest cent)
Expert Solution
Computation of Cost of Goods Sold per Unit:
Cost of Goods Sold per Unit = (Direct Materials + Direct Labor + Overhead Cost)/Units Produced
= ($54,600+$42,000+($25*250 Direct Labor Hours)/1,200
= ($54,600+$42,000+$6,000)/1,200
Cost of Goods Sold per Unit = $85.50
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