Diaz and Associates incurred the following direct labor costs in completing tax services job for a client. Diaz applies overhead at 50% of direct labor cost. Direct Labor on Tax Job Partner Senior manager Staff accountants Direct labor type Hours Used Total direct labor cost Overhead Estimated Applied Overhead Total cost 7 19 140 1. Determine the total cost of this tax services job. Estimated Cost Hourly Rate $ 490 170 60 Hours used Hourly rate OH Base Labor Cost OH rate Total Cost 2. If Diaz charged $28,000 for this tax services job, what is the gross profit for the job? Gross Profit

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Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.