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Newhard Company assigns overhead cost to jobs on the basis of 113% of direct labor cost. The job cost sheet for Job 313 includes $26.422 in direct materials cost and $10,600 in direct labor cost. A total of 1,400 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313? a Total manufacturing cost b. Unit product cost 17 Chec
Help Save Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $6,300 for direct materials, $8,600 for direct labor, and $6,278 for overhead on its job cost sheet Job W, which is still in process at year-end, shows charges of $2,900 for direct materials and $5,700 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W's job cost sheet be reported within Sigma Corporation's financial statements at the end of the year?