Company uses job-order costing to estimate their costs and also set their prices. The following information is available:

Estimated total budgeted overhead $300,000

Estimated total budgeted machine hours 10,000

Estimated total budgeted direct labor hours 20,000

Estimated budgeted direct labor costs $75,000

Co. is bidding on a job and has the following estimated information for that specific job:

Direct Materials Needed $9,000

Direct Labor Costs Needed $1,000

Direct Labor Hours Needed 225

Machine Hours Needed 100

The company uses machine hours to allocate overhead.,

Required

Calculate the following amounts:

Questions	Answers
Calculate the overhead rate
Calculate the amount of overhead costs allocated to this specific job
Calculate the total costs of this specific job
Calculate the selling price of the specific job assuming that Porter adds 10% to the total cost of the job

Calculations