Gobor-258 Inc. uses a job-order costing system with a predetermined overhead rate using machine hours as the allocation base. The company made the following estimates at the beginning of last year: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 31,800 $ 159,000 $ 2.00 Gobor-258 Inc. started and completed Job X274 last year. It reported the following information for Job X274: Number of units in the job 10 Total machine-hours 30 Direct materials $ 660 Direct labor cost $ 1,320 The company uses a markup percentage of 40% of its total manufacturing cost in determining selling price. The selling price per unit the company would charge for Job X274 is closest to: (Round your calculations to 2 decimal places.)

Gobor-258 Inc. uses a job-order costing system with a predetermined overhead rate using machine hours as the allocation base. The company made the following estimates at the beginning of last year: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour 31,800 $ 159,000 $ 2.00 Gobor-258 Inc. started and completed Job X274 last year. It reported the following information for Job X274: Number of units in the job 10 Total machine-hours 30 Direct materials $ 660 Direct labor cost $ 1,320 The company uses a markup percentage of 40% of its total manufacturing cost in determining selling price. The selling price per unit the company would charge for Job X274 is closest to: (Round your calculations to 2 decimal places.)

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Description: Gobor-258 Inc. uses a job-order costing system with a predetermined overhead rate using machine hours as the allocation base. The company madethe following estimates at the beginning of last year:Total machine-hoursTotal fixed manufacturing overhead

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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