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 | 32,000 | |
| 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 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.)
Garrison 16e Rechecks 2017-06-22, 2017-08-01
Multiple Choice
-
$283.50
-
$361.90
-
$103.40
-
$546.00
Solutions
Expert Solution
| fixed Overhead rate = | 11.00 | per machine hr | ||
| 352000/32000 | ||||
| Variable overhead rate = | 3 | per machine hr | ||
| Computation of job cost | ||||
| Material | $ 675.00 | |||
| Labor | $ 1,350.00 | |||
| Overhead = | $ 560.00 | |||
| 14*40 | $ 2,585.00 | |||
| Mark up @ 40% | $ 1,034.00 | |||
| Sales price - | $ 3,619.00 | |||
| Number of units = | 10 | |||
| Price per unit | $ 361.90 | |||
| answer = | $ 361.90 | |||
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
32,700
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...
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
32,800
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
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 31,200 Total fixed
manufacturing overhead cost $ 156,000 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 30 Direct materials $ 665 Direct labor cost $
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
The unit product...
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
The total job...
Gerstein Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
Gerstein 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 total fixed manufacturing overhead cost of
$90,000, variable manufacturing overhead of $3.70 per direct
labor-hour, and 50,000 direct labor-hours. The company recently
completed Job M800 which required 150 direct labor-hours.
The estimated total manufacturing overhead is closest to:
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$90,004
Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
Dehner 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 the following data:
Total direct labor-hours
78,000
Total fixed manufacturing overhead cost
$
460,200
Variable manufacturing overhead per direct labor-hour
$
5.00
Recently, Job P951 was completed with the following
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Total direct labor-hours
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Direct labor cost
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Harootunian Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...
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