Question

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 42,000 direct labor-hours, total fixed manufacturing overhead cost of $361,200, and a variable manufacturing overhead rate of $2.40 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 200
Direct materials $ 400
Direct labor cost $ 5,900

Required:

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.)

selling price per unit:

Homework Answers

Answer #1
Denominator Level of Activity 42,000 DLH
Variable Overhead Cost (42,000 x $2.40) $100,800
Fixed Overhead Cost $361,200
Total $462,000
Predetermined overhead rate = Total budgeted Overhead/ Total budgeted hours
$462,000/42,000
$11.00
Direct materials $400
Direct labor cost $5,900
Ovrehead applied (200 x $11.00) $2,200
Total manufacturing cost $8,500
Add: Markup 20% $1,700
Selling price for Job X941 $10,200
Units $50
Selling price per unit $204.00
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