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alexdok [17]
2 years ago
15

Newhard Company assigns overhead cost to jobs on the basis of 114% of direct labor cost. The job cost sheet for Job 313 includes

$26,530 in direct materials cost and $10,500 in direct labor cost. A total of 1,400 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?
Business
1 answer:
UkoKoshka [18]2 years ago
8 0

Answer:

Results are below.

Explanation:

Giving the following information:

Estimated overhead rate= 114% of direct labor cost.

Job 313:

Direct materials= $26,530

Direct labor=  10,500

Number of units= 1,400

<u>First, we need to allocate overhead to Job 313:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 10,500*1.14= $11,970

<u>Now, the total cost:</u>

Total cost= 26,530 + 10,500 + 11,970

Total cost= $49,000

<u>Finally, the unitary cost:</u>

Unitary cost= 49,000 / 1,400

Unitary cost= $35

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Answer:

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Step 2. Bank reconciliation statement

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Step 3.

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A bank reconciliation statement is presented to reconcile a 3rd party (Bank) statement of our Account and the Account maintained by the business in house.

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Smaller bags of items are generally priced lower per unit than larger bags.
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<span>B. FALSE yes
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