c) Calculate the total cost & quotation price of Job #B4000, given that a margin of 20% is applied.d) 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 $1,500,00o.The administration and selling overheads are to be absorbed in each job cost at 33%% 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$240,000Direct labour hours400 hoursSpecial Design CostDistribution quote from haulage company$12,850$17,900

solution workings manufacturing overhead as a % of direct labor cost predetermined rate…

Answered: c) Calculate the total cost & quotation…

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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Requirement 2. 1,900 pipes were produced for Job M1. Calculate the cost per pipe. (Round your answer to the nearest whole dollar.) If 1,900 pipes were produced, the cost per each pipe for Job M1 is
Dinesh bhai
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Thank you for the help, I have two follow up questions regarding this, -First question is 3. Calculation of cost per equivalent units in ( converstion) beginning Work in the process should it be 654,800 instead of 327,400 becuase converstion costs = direct labor + overhead and in this case it would be 327,400 + 100% * 327,400 = 654,800? and Cost incurred during the period for conversation cost = Direct labor cost + overhead cost = 7,207,400 + (100% * 7,207,400) = 14,414,800? -Second question is 5. Calculation of Cost of units Completed and Transferred out (Finished Goods) for December 31, 20x1, should it we use Equivalent Units (A) 1,134,000 units instead of 2,700,000 becuase we are preparing a schedule of December 31?
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c) Calculate the total cost & quotation price of Job #B4000, given that a margin of 20% is applied d) Given that Job #4000 consisted of 250 units, determine the production cost per unit?