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Newhard Company assigns overhead cost to jobs on the basis of 125% of direct labor cost. The job cost sheet for Job 313 includes $10,000 in direct materials cost and $12,000 in direct labor cost. A total of 1,000 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313?
Newhard Company assigns overhead cost to jobs on the basis of 125% of direct labor cost. The job cost sheet for Job 313 includes $10,000 in direct materials cost and $12,000 in direct labor cost. A total of 1,000 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313?
Answer:A) manufacturing costs= $37,000B) Unitary cost= $37Explanation:Giving the following information:Newhard Company assigns overhead costs to jobs based on 125% of direct labor cost.The job cost sheet for Job 313 includes $10,000 in direct materials cost and $12,000 in direct labor cost.A total of 1,000 units were produced in Job 313.A)manufacturing costs= direct materials + direct labor + manufacturing overheadmanufacturing costs= 10000 + 12000 + (12000*1.25)= $37,000B)Unitary cost= 37000/1000= $37...
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