Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

123 Corporation is trying to determine the cost of a job, 1514. Job #1514 used 150 kg of steel that cost $8,500 a tonne, 5

  1. 123 Corporation is trying to determine the cost of a job, 1514. Job #1514 used 150 kg of steel that cost $8,500 a tonne, 5 metres of rubber that cost $125 a metre and 0.5 metre of wiring costing $350 a metre. Employee #13 worked on the job for 8.5 hours and employee #9 worked on the job for 9 hours. Manufacturing overhead is allocated at a rate of $12.5 per direct labour hour. Direct Labour costs an average of $50.75 an hour.
  1. What is the total amount($) of direct materials used on job 1514s job record?

  1. What is the total amount of direct labour used on job 1514s job record?

  1. What is the total amount of manufacturing overhead on job 1514s job record?

  1. What is the total cost of job 1514?

  1. Assuming job #1514 produces 3 bikes, what is the cost per bike?

  1. Assuming each bike sells for $1,500, what is the gross profit per bike?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions