Question
In: Accounting
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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 | 32,700 |
|---|---|
| Total fixed manufacturing overhead cost | $294,300 |
| Variable manufacturing overhead per machine-hour | $ 2.00 |
Recently, Job T687 was completed with the following characteristics:
| Number of units in the job | 10 |
|---|---|
| Total machine-hours | 20 |
| Direct materials | $ 545 |
| Direct labor cost | $1,090 |
If the company marks up its unit product costs by 40% then the selling price for a unit in Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)
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Expert Solution
Total variable overhead estimated=(32700*2)=$65400
Total overhead estimated=Total variable overhead estimated+Total fixed overhead estimated
=65400+294300=$359700
Predetermined overhead rate=Total overhead estimated/Estimated machine hours
=359700/32700
$11 per machine hour
Hence applied overhead=Predetermined overhead rate*Actual machine hours
=(11*20)=$220
Add:Direct materials=$545
Add:Direct labor=$1090
Total cost=$1855
Cost per unit=1855/10
=$185.5
Hence selling price=Cost per unit*140%
=185.5*140%
=$259.7
ekkarill92 answered 2 years agoRelated Solutions
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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
32,300
Total fixed
manufacturing overhead cost
$
581,400
Variable
manufacturing overhead per machine-hour
$
2.00
Recently, Job T687 was
completed with the following characteristics:
Number
of units in the job
10
Total
machine-hours
40
Direct
materials
$
630
Direct labor
cost
$
1,260
If the company...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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
32,000
Total fixed manufacturing overhead cost
$
352,000
Variable manufacturing overhead per machine-hour
$
3.00
Recently, Job T687 was completed with the following
characteristics:
Number of units in the job
10
Total machine-hours
40
Direct materials
$
675
Direct labor cost
$
1,350
If the company...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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
32,800
Total fixed
manufacturing overhead cost
$
164,000
Variable
manufacturing overhead per machine-hour
$
5
Recently, Job T687 was
completed with the following characteristics:
Number
of units in the job
10
Total
machine-hours
30
Direct
materials
$
745
Direct labor
cost
$
1,490
The amount of...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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
30,400
Total fixed manufacturing overhead cost
$
425,600
Variable manufacturing overhead per machine-hour
$
5.00
Recently, Job T687 was completed with the following
characteristics:
Number of units in the job
10
Total machine-hours
20
Direct materials
$
590
Direct labor cost
$
1,180
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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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 31,200 Total fixed
manufacturing overhead cost $ 156,000 Variable manufacturing
overhead per machine-hour $ 3.00 Recently, Job T687 was completed
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1,330 If the company...
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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
30,700
Total fixed manufacturing overhead
cost
$
337,700
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
$
575
Direct labor cost
$
1,150
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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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
32,300
Total fixed manufacturing overhead cost
$
581,400
Variable manufacturing overhead per machine-hour
$
2.00
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characteristics:
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Total machine-hours
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Direct materials
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Direct labor cost
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