Solved:
Answered by AI, Verified by Human Experts
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 31,400 total fixed manufacturing overhead cost $ 219,800 variable manufacturing overhead per machine-hour $ 4 recently, job t687 was completed with the following characteristics: number of units in the job 10 total machine-hours 20 direct materials $ 580 direct labor cost $ 1,160 the total job cost for job t687 is closest to:
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 31,400 total fixed manufacturing overhead cost $ 219,800 variable manufacturing overhead per machine-hour $ 4 recently, job t687 was completed with the following characteristics: number of units in the job 10 total machine-hours 20 direct materials $ 580 direct labor cost $ 1,160 the total job cost for job t687 is closest to:
Final answer:The totaljob order costfor job T687 under the job-order costing system, from Lupo Corporation, considering overhead rate, direct materials cost, and direct labor cost, is $1960.Explanation:To calculate the total job cost for job T687 under the job-order costing system, we first need to determine the overhead costs for this job. The predetermined overhead rate per machine hour is calculated by adding thetotal fixed manufacturing overhead costto the product of thevariable manufacturing overhead per machine-hourand thetotal machine-hours, and then dividing this result by the total machine-hours. Using the provided data, we have: (219,800 + (4 * 31,400 )) / 31,400 = $11.With this overhead rate, the total overhead cost for job T687 can be calculated as the rate multiplied by the machine hours for the job: $11 * 20 = $220. The total cost for job T687 thus comprises of the overhead cost, the direct materials cost, and the direct labor cost: $220 + $580 (direct materials) + $1160 (direct labor) = $1960.So, the total job cost for job T687 is closest to $1960.Learn more about Job-Order Costing here:brainly.com/question/31947351?referrer=searchResults#SPJ11...