Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 40,000 direct labor-hours, total fixed manufacturing overhead cost of $292,000, and a variable manufacturing overhead rate of $3.90 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data:
Total direct labor-hours 250
Direct materials$500
Direct labor cost$7,000
Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round your intermediate calculations and final answer to 2 decimal places.)
Homework Answers
Overhead rate = (292000/40000+3.9) = 11.20 per hour
calculate selling price of Job
| Job X941 | |
| Direct material | 500 |
| Direct labor | 7000 |
| Overhead (250*11.20) | 2800 |
| Total cost | 10300 |
| Markup | 2060 |
| Selling price | 12360 |
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