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Sunny_sXe [5.5K]
2 years ago
14

Just for the​ halibut, inc. Designs and manufactures custom made fishing rods. On june​ 1, it had one job started for misterjaw

with a beginning work in process balance of​ $525. During june the job was finished and sold. Direct labor for the job in june was​ $75 and direct materials used were​ $60. Direct laborers are paid a wage rate of​ $15 per hour and manufacturing overhead is applied to production at a rate of​ $9 per direct labor hour. The company marks up costs​ 35% to determine the selling price. What was the selling price of the​ job?.
SAT
1 answer:
arsen [322]2 years ago
7 0

Based on the various costs and the markup percentage, the selling price would be<u> $951.75.</u>

<h3>Manufacturing overhead </h3>

= Direct labor hours x Rate per labor hour

= (75 / 15 per hour) x 9

= 5 x 9

= $45

<h3>Manufacturing costs </h3>

= Beginning work in process + Direct labor + Direct material + Manufacturing overhead

= 525 + 75 + 60 + 45

= $705

<h3>Selling price </h3>

= Manufacturing cost + ( 1 + markup costs)

= 705 x ( 1 + 35%)

= $951.75

In conclusion, the selling price is $951.75.

Find out more on markup costs at brainly.com/question/1153322.

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