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Compute the total cost for this job

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Reference no: EM132865015

Question - The manufacturing company prepares the following budget for 2020.

 

Machining

Finishing

Factory overhead

$96,000

$200,000

Machine hours

6000

840

Direct labour cost

$60,000

$400,000

This company uses a predetermined overhead rate for applying overhead based on machine hours for 'machining' and direct labour cost for 'finishing'.

You are given the following actual information about one job:

 

Machining

Finishing

Direct materials used

$11,000

$3,000

Machine hours

300

40

Direct labour cost

$10,000

$20,000

Required -

(1) Compute the total cost (full cost) for this job.

(2) Why we need to develop Activity-based costing.

Reference no: EM132865015

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