Answered step by step
Verified Expert Solution
Question
1 Approved Answer
3) Job 243 was recently completed. The following data have been recorded on its job cost sheet: Direct materials Direct labor-hours Direct labor wage
3) Job 243 was recently completed. The following data have been recorded on its job cost sheet: Direct materials Direct labor-hours Direct labor wage rate Machine-hours Number of units completed $ 48,870 405 labor-hours $13 per labor-hour 486 machine-hours 2,700 units The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $11 per machine-hour. Required: a) Compute the unit product cost that would appear on the job cost sheet for this job. b) Assume the company uses cost-plus pricing with a markup percentage of 80%. What selling price would the company have established? c) What is the gross profit on this job. (15 points)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started