Product Cost: The cost incurred on the production of a particular job or product is called product cost. The cost in production of a product usually involves raw material used, direct labor used and manufacturing overhead applied. Cost Sheet: The report which is concerned with all the cost incurred on a particular job is called cost sheet. It contains all necessary information regarding the customer, Job and cost on specific production or job. To determine : 1. Compute the predetermined overhead rate for 2017? 2. Computation of total cost of the job based on cost sheet provided.

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Chapter 19, Problem 11E

To determine

Product Cost:

The cost incurred on the production of a particular job or product is called product cost. The cost in production of a product usually involves raw material used, direct labor used and manufacturing overhead applied.

Cost Sheet:

The report which is concerned with all the cost incurred on a particular job is called cost sheet. It contains all necessary information regarding the customer, Job and cost on specific production or job.

To determine:

1. Compute the predetermined overhead rate for 2017?

2. Computation of total cost of the job based on cost sheet provided.

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