Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data have been recorded for recently completed Job P36 on its job cost sheet. Direct materials cost was $3,000. A total of 500

The following data have been recorded for recently completed Job P36 on its job cost sheet. Direct materials cost was $3,000. A total of 500 direct labor-hours and 400 machine-hours were worked on the job. The direct labor wage rate is $11 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. In addition, estimated overhead costs at the company was $50,000 and estimated number of machine hours was 2,500 at the beginning of the year. Total conversion costs for Job A34 would be:

  1. 8000
  2. 8500
  3. 13500
  4. 16500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Accounting Information Systems

Authors: Marshall RomneyPaul Steinbart

11th Edition

136015182, 978-0136015185

Students also viewed these Accounting questions

Question

Describe the major focus of Frankls logotherapy.

Answered: 1 week ago