Simpson Company applies overhead on the basis of 200% of direct labor cost. Job No. 305 is charged with $120,000 of direct materials costs and $200,000 of manufacturing overhead. The total manufacturing costs for Job No. 305 is $210,000 $270,000 $300,000

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10-12-2022
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Simpson Company applies overhead on the basis of 200% of direct labor cost. Job No. 305 is charged with $120,000 of direct materials costs and $200,000 of manufacturing overhead. The total manufacturing costs for Job No. 305 is $210,000 $270,000 $300,000

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Tutorconsortium425 Tutorconsortium425 · Answer 1 · 2022-12-16T09:22:33+01:00

The Simpson Company bases its overhead calculations on a 200% direct labor cost ratio. $120,000 in direct materials expenses and $200,000 in manufacturing overhead are billed for Job No. 305.

What does job number 305's total manufacturing cost equal?

For Job No. 305, the total manufacturing expenses were $120,000 + ($200,000 / 2) + $200,000 = $420,000.

What do you mean by the overall cost of production?

Total manufacturing expenses reveal how much money your business spent making its goods during a specific time period. This comprises a full breakdown of the price of overhead, the cost of the materials utilized, the cost of the labor, and any additional manufacturing costs that went into producing the product.

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