Question

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 30,200
Total fixed manufacturing overhead cost $ 120,800
Variable manufacturing overhead per machine-hour $ 6

Recently, Job T687 was completed with the following characteristics:

Number of units in the job 10
Total machine-hours 40
Direct materials $ 710
Direct labor cost $ 1,410

The total job cost for Job T687 is closest to:

Homework Answers

Answer #1

Correct answer---$2,520

Working

calculation of Plantwide overhead rate

(A)

Total Overheads

$                120,800.00

(B)

Total Machine hours

30200

(A/B)

Plantwide overhead rate

$                             4.00

Job Cost of JOB T687

Direct material

$     710.00

Direct labor

$ 1,410.00

Variable manufacturing overheads

($6 x 40)

$     240.00

Fixed manufacturing overheads

($4 x 40)

$     160.00

Total Cost

$ 2,520.00

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