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Compute the total cost for this job

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Reference no: EM133031199

Question - The ABC manufacturing company prepares the following budget for 2021.

 

Machining

Finishing

Factory overhead

$72,000

$100,000

Machine hours

2000

740

Direct labour cost

$60,000

$250,000

ABC 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

$9,000

$2,000

Machine hours

200

40

Direct labour cost

$8,000

$15,000

Required -

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

(2) Discuss why we need to absorb overhead.

Reference no: EM133031199

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