Hello tutor please given correct answer general Accounting Perl Corp. applies to manufacturing overhead costs to products at a budgetedindirect-cost rate of $55 per direct manufacturing labor hour. A retail outlet hasrequested a bid on a special order of a necklace. Estimates for this order include:Direct materials of $46,000; 400 direct manufacturing labor- hours at $15 perhour; and a 50% markup rate on total manufacturing costs.The bid price for this special order is:a. $78,000.b. $62,000.c. $111,000.d. $102,000.

Step 1: Define Mark UpMark up is adding a percentage of profit margin on the total cost of…

Answered: Perl Corp. applies to manufacturing…

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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Parker Industries applies manufacturing overhead costs to products at a budgeted indirect-cost rate of $60 per direct manufacturing labor hour. A client has requested a bid on a special order for a customized bracelet. Estimates for this order include: Direct materials of $52,000, 450 direct manufacturing labor hours at $18 per hour, and a 40% markup rate on total manufacturing costs. What is the bid price for this special order?
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