Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate

Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 38,000 direct labor-hours, total fixed manufacturing overhead cost of $243,200, and a variable manufacturing overhead rate of $5.00 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data:

Total direct labor hours: 250

Direct Materials: $500

Direct Labor Cost: $6,500

Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round intermediate calculations and final answer to 2 decimal places.)

Selling price per unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Recommended Textbook for

Principles Of Managerial Finance

Authors: Lawrence J. Gitman, Chad J. Zutter

14th Global Edition

9781292018201

Students also viewed these Accounting questions