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18 February, 06:57

Newhard Company assigns overhead cost to jobs on the basis of 125% of direct labor cost. The job cost sheet for Job 313 includes $10,000 in direct materials cost and $12,000 in direct labor cost. A total of 1,000 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?

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  1. 18 February, 10:45
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    A) manufacturing costs = $37,000

    B) Unitary cost = $37

    Explanation:

    Giving the following information:

    Newhard Company assigns overhead costs to jobs based on 125% of direct labor cost.

    The job cost sheet for Job 313 includes $10,000 in direct materials cost and $12,000 in direct labor cost.

    A total of 1,000 units were produced in Job 313.

    A) manufacturing costs = direct materials + direct labor + manufacturing overhead

    manufacturing costs = 10000 + 12000 + (12000*1.25) = $37,000

    B) Unitary cost = 37000/1000 = $37
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