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Haslett corporation uses standard costs with its job order

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Haslett Corporation uses standard costs with its job order cost accounting system. In January, an order for 1,900 units of Product B was received. The standard cost of one unit of Product B is as follows.

Direct materials
2 pounds at $1.00 per pound
$ 2.00
Direct labor
2.00 hour at $8 per hour
16.00
Overhead
2 hours (variable $4.50 per machine hour; fixed $2.50 per machine hour)
14.00
Standard cost per unit


$32.00

Normal capacity for the month was 4,100 machine hours. During January, the following transactions applicable to Job No. 12 occurred.

1.
Purchased 4,256 pounds of raw materials on account at $1.05 per pound.
2.
Requisitioned 4,256 pounds of raw materials for Job No. 12.
3.
Incurred 3,895 hours of direct labor at a rate of $7.91 per hour.
4.
Worked 3,895 hours of direct labor on Job No. 12.
5.
Incurred manufacturing overhead on account $33,120.
6.
Applied overhead to Job No. 12 on basis of standard machine hours allowed.
7.
Completed Job No. 12.
8.
Billed customer for Job No. 12 at a selling price of $150,100.

Reference no: EM13584458

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