A company assigns overhead cost to completed jobs on the basis of 119% of direct

Question

A company assigns overhead cost to completed jobs on the basis of 119% of direct labor cost.The job cost sheet for Job 313 shows $25,867 in direct materials has been used on the job and that $10,700 in direct labor cost has been incurred. A total of 1,450 units were produced in Job 313.

Unit product cost=?

A company assigns overhead cost to completed jobs on the basis of 119% of direct labor cost.The job cost sheet for Job 313 shows $25,867 in direct materials has been used on the job and that $10,700 in direct labor cost has been incurred. A total of 1,450 units were produced in Job 313.

Explanation / Answer

Caluclation of Manufacturing Cost : Particulars Amount $ Direct Materials             25,867 Direct Labour             10,700 Maufacturing Overhead @ 119%             12,733 of direct labour Total Manufacturing Cost             49,300 Total Units Produced in Job 313               1,450 Unit Product Cost in Job 313 is = Total Manufacturing Cost/ Units Produced 49300/1450 Per Unit Cost of Job 313               34.00

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