Required1. Calculate the total cost & quotation price of Job #B4000, given that a margin of 20% is applied.2. Given that Job #4000 consisted of 250 units, determine the production cost per unit? Everlast Manufacturing Company uses a predetermined manufacturing overhead rate based on apercentage of direct labor cost. At the beginning of 2020, they estimated total manufacturing overheadcosts at $1,203,750, and they estimated total direct labor costs at $1,500,000.The administration and selling overheads are to be absorbed in each job cost at 33½% of prime cost.Distribution cost should be added to each job according to quotes from outside carriage companies.The company wishes to quote for Job # B4000. Data for the job are as follows:Direct materials cost$159,500Direct labour cost$240,000400 hours$12,850Direct labour hoursSpecial Design CostDistribution quote from haulage company$17,900

Answered: 1. Calculate the total cost & quotation…

1. Calculate the total cost & quotation price of Job #B4000, given that a margin of 20% is applied. 2. Given that Job #4000 consisted of 250 units, determine the production cost per unit?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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