Copy Center pays an average wage of $12 per hour to employees for printing and copying jobs, and allocates $18 of overhead for each employee hour worked. Direct materials are assigned to each job according to actual cost.
Required:
(A) If Job M-47 used $365 of direct materials and took 20 direct labor hours of labor to complete, what is the total cost that should be assigned to the job?

The answer is $ 965. $965 should be assigned to the job

Explanation:

Since we're given the material cost we need to calculate the labour cost and the overhead cost. The hours worked are given. Thus multiplying the hours worked by the labour rate and overhead rate we can determine these cost. If we total the labour rate and the overhead rate we get a rate of $ 30. 30 x 20 = 600. Thus the total is $ 965.

the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.