Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Solidity, Inc. uses an actual manufacturing overhead rate based on direct labor hours to apply its indirect product costs to jobs. The following information has
Solidity, Inc. uses an actual manufacturing overhead rate based on direct labor hours to apply its indirect product costs to jobs. The following information has been collected for 2020: Direct materials $ 155,000 Direct labor 205,000 Sales commissions 105,000 Indirect labor 55.000 Rent on office equipment 30,000 Depreciation --- factory building $ 80,000 Utilities factory $ 105,000 Solidity used 10,000 direct labor hours and 25,000 machine hours during the previous year. Assume there are no beginning or ending Work in Process inventory. If 8,000 units of a single product were manufactured in 2020, what is the average cost per unit (Round to the nearest dollar)? QUESTION 15 "Lucid Enterprises allocates manufacturing overhead to Work in Process on the basis of $2.50 per dollar of direct labor cost. If Product BZ1 had $100,000 of manufacturing overhead allocated to it during June, the direct labor assigned to Product BZ1 was (Round to the nearest dollar)
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