What is the total cost of job 500 using actual costing? What is the total cost...
What is the total cost of job 500 using actual costing?
What is the total cost of job 500 using normal costing?
This company applies overhead using the normal costing system using direct labor hours as the allocation base.
| estimated | actual | |
| direct labor hours | 24000 | 26000 |
| direct labor cost | $ 480,000.00 | $ 390,000.00 |
| overhead | $ 450,000.00 | $ 598,000.00 |
| job 500 | ||
| Direct materials | $ 500.00 | |
| direct labor cost | $ 600.00 | |
| direct labor hours | 32 |
Homework Answers
Actual costing
Overhead rate = $598000/26000 = $23 per labor hour
Cost of job = $500 + $600 + ($23*32 hours)
= $1836
Normal costing
Overhead rate = $480000/24000 = $20
Cost of job = $500 + $600 + (32*$20)
= $1740
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What is the total cost of job 500 using actual costing?
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