Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:
Total machine-hours | 30,300 |
---|---|
Total fixed manufacturing overhead cost | $ 575,700 |
Variable manufacturing overhead per machine-hour | $ 4.00 |
Recently, Job T687 was completed with the following characteristics:
Number of units in the job | 10 |
---|---|
Total machine-hours | 30 |
Direct materials | $ 730 |
Direct labor cost | $ 1,460 |
If the company marks up its unit product costs by 40% then the selling price for a unit in Job T687 is closest to:
Note: Round your intermediate calculations to 2 decimal places.
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