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The company uses a job-order costing system with a predetermined overhead rate using direct labor hours as the allocation base. The company made the
The company uses a job-order costing system with a predetermined overhead rate using direct labor hours as the allocation base. The company made the following estimates at the beginning of last year: Direct labor-hours required for the estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour The 152,000 $ 659,000 $ 4.70 last year. It recorded the following information for Product company started and completed Product Direct materials $ 350 Direct labor cost $ 260 Direct labor hours used 35 hours 50 units Number of units produced The company uses a markup percentage of 120% of its total manufacturing cost in determining selling price. The selling price per unit the company would charge for Product | is closest to: (Carry out your calculations up to 2 decimal places)
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