Question
Job 599 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 40,610 Direct labor-hours 1,147 DLHs Direct
Job 599 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 40,610 Direct labor-hours 1,147 DLHs Direct labor wage rate $ 11 per DLH Number of units completed 3,100 units Selling Price per unit $ 40.00 each The company applies manufacturing overhead on the basis of direct labor-hours. The predetermined overhead rate is $20 per direct labor-hour. Required: Compute the total cost for Job 599 and the per unit product cost that would appear on the job cost sheet for this job. What is the Gross Margin Ratio for Job 599?
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