Question & Answer: A company assigns overhead cost to completed jobs on the basis of 119% of direct labor cost.The job cost shee…..

A company assigns overhead cost to completed jobs on the basis of 119% of direct labor cost.The job cost sheet for Job 313 shows $18,474 in direct materials has been used on the job and that $10,400 in direct labor cost has been incurred. A total of 1,250 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313?

Expert Answer

 

overhead cost=(119%*$10400)=$12376

Add:direct materials=$18474

Add:direct labor=$10400

Total manufacturing costs=$41250.

Unit product cost=($41250/1250)=$33.

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