Cull Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $231,200, variable manufacturing overhead of $2.40 per machine-hour, and 34,000 machine-hours. The company has provided the following data concerning Job X455 which was recently completed: Number of units in the job Total machine-hours. 20 80 Direct materials. $ 990 Direct labor cost $ 1,980 If the company marks up its unit product costs by 25% then the selling price for a unit in Job X455 is closest to:
Cull Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $231,200, variable manufacturing overhead of $2.40 per machine-hour, and 34,000 machine-hours. The company has provided the following data concerning Job X455 which was recently completed: Number of units in the job Total machine-hours. 20 80 Direct materials. $ 990 Direct labor cost $ 1,980 If the company marks up its unit product costs by 25% then the selling price for a unit in Job X455 is closest to:
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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![Multiple Choice
O
$256.63
$185.30
$46.33
$231.63](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac3be618-b645-4bd8-855b-808ff3fc18d4%2Fcd7e8274-e8f0-4006-a994-ffa0f8199d72%2Fv52b1q7_processed.png&w=3840&q=75)
Transcribed Image Text:Multiple Choice
O
$256.63
$185.30
$46.33
$231.63
![Cull Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate
for the current year on total fixed manufacturing overhead cost of $231,200, variable manufacturing overhead of $2.40 per machine-hour, and 34,000 machine-hours. The company has
provided the following data concerning Job X455 which was recently completed:
Number of units in the job
Total machine-hours
Direct materials
Direct labor cost
$
20
80
$ 990
1,980
If the company marks up its unit product costs by 25% then the selling price for a unit in Job X455 is closest to:
Note: Round your intermediate calculations to 2 decimal places.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fac3be618-b645-4bd8-855b-808ff3fc18d4%2Fcd7e8274-e8f0-4006-a994-ffa0f8199d72%2Fzij5q7a_processed.png&w=3840&q=75)
Transcribed Image Text:Cull Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate
for the current year on total fixed manufacturing overhead cost of $231,200, variable manufacturing overhead of $2.40 per machine-hour, and 34,000 machine-hours. The company has
provided the following data concerning Job X455 which was recently completed:
Number of units in the job
Total machine-hours
Direct materials
Direct labor cost
$
20
80
$ 990
1,980
If the company marks up its unit product costs by 25% then the selling price for a unit in Job X455 is closest to:
Note: Round your intermediate calculations to 2 decimal places.
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