A company assigns overhead costs to completed jobs on the basis of 125% of direct labor costs. The job cost sheet for Job 313 shows that $10,000 in direct materials has been used on the job and that $12,000 in direct labor cost has been incurred. A total of 1,000 units were produced in Job 313. a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313?
A company assigns overhead costs to completed jobs on the basis of 125% of direct labor costs. The job cost sheet for Job 313 shows that $10,000 in direct materials has been used on the job and that $12,000 in direct labor cost has been incurred. A total of 1,000 units were produced in Job 313. a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A company assigns overhead costs to completed jobs on the basis of
125% of direct labor costs. The job cost sheet for Job 313 shows that
$10,000 in direct materials has been used on the job and that
$12,000 in direct labor cost has been incurred. A total of 1,000 units
were produced in Job 313.
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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