Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 44,000 direct labor-hours, total fixed manufacturing overhead cost of $369,600, and a variable manufacturing overhead rate of $4.00 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Total direct labor-hours Direct materials Direct labor cost 300 $ 600 $7,000 Required: Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round intermediate calculations and final answer to 2 decimal places.) Selling price per unit

Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 44,000 direct labor-hours, total fixed manufacturing overhead cost of $369,600, and a variable manufacturing overhead rate of $4.00 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Total direct labor-hours Direct materials Direct labor cost 300 $ 600 $7,000 Required: Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round intermediate calculations and final answer to 2 decimal places.) Selling price per unit

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Description: 6Mcewan Corporation uses a job-order costing system with a single plantwidepredetermined overhead rate based on direct labor-hours. The company based itspredetermined overhead rate for the current year on 44,000 direct labor-hours, totalfixed manufa

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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