Bert’s Electronics Inc. delivered 1,500 custom-designed computer monitors to its customer, Video Shack. The following cost information was compiled in connection with this order: Direct Materials Used Part A327: 1 unit costing $70 per monitor Part B149: 1 unit costing $100 per monitor Direct Labor Used Assembly: 6 hours per monitor at the rate of $20 per hour Inspection: 1 hour per monitor at the rate of $22 per hour In addition, the company applies manufacturing overhead costs to jobs at the rate of $15 per direct labor hour. The selling price for each monitor is $500. Required (a) Determine the total cost for this job.
Bert’s Electronics Inc. delivered 1,500 custom-designed computer monitors to its customer, Video Shack. The following cost information was compiled in connection with this order: Direct Materials Used Part A327: 1 unit costing $70 per monitor Part B149: 1 unit costing $100 per monitor Direct Labor Used Assembly: 6 hours per monitor at the rate of $20 per hour Inspection: 1 hour per monitor at the rate of $22 per hour In addition, the company applies manufacturing overhead costs to jobs at the rate of $15 per direct labor hour. The selling price for each monitor is $500. Required (a) Determine the total cost for this job.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Bert’s Electronics Inc. delivered 1,500 custom-designed computer monitors to its customer, Video Shack. The following cost information was compiled in connection with this order:
Direct Materials Used
- Part A327: 1 unit costing $70 per monitor
- Part B149: 1 unit costing $100 per monitor
Direct Labor Used
- Assembly: 6 hours per monitor at the rate of $20 per hour
- Inspection: 1 hour per monitor at the rate of $22 per hour
In addition, the company applies
Required
(a) Determine the total cost for this job.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education