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10 July, 18:25

The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,057. A total of 37 direct labor-hours and 194 machine-hours were worked on the job. The direct labor wage rate is $24 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $33 per machine-hour. The total cost for the job on its job cost sheet would be:

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  1. 10 July, 20:50
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    Total Manufacturing Cost = $9,347

    Explanation:

    Total cost for the job 450 is as follows:

    Direct material = $2,057

    Direct labor = $888 (Note - 1)

    Overhead cost = $6,402 (Note - 2)

    Total Manufacturing Cost = $9,347

    Note - 1: Direct labor = Direct labor-hours * Direct labor wage rate

    Given,

    Direct labor-hours = 37 hours

    Direct labor wage rate = $24 per labor-hour

    Direct labor = 37 hours * $24 per labor-hour

    Direct labor = $888

    Note - 2: Overhead cost = Machine-hours * predetermined overhead rate

    Given,

    Machine-hours = 194 hours

    predetermined overhead rate = $33

    Overhead cost = 194 hours * $33 = $6,402
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