deena7
deena7
03.04.2020 • 
Business

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
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
The total job cost for Job T687 is closest to .

(Round your intermediate calculations to 2 decimal places.)

Job-Order Costing:
Under the job order costing system, each process is treated and accounted for separately as the system is used only when the produced goods are different from each other. Manufacturing overhead is allocated using a predetermined overhead rate and it comprises of both the variable component and the fixed component.

Solved
Show answers

Ask an AI advisor a question