Chapter 2 Flashcards
(9 cards)
How do you calculate a Predetermined Overhead Rate?
Predetermined Overhead Rate = Estimated total manufacturing overhead cost/Estimated total amount of the allocation case
How do you calculate overhead applied to a job?
OH Applied to Job = Predetermined Overhead Rate X Actual Amount of Allocation Base Assigned to Job
How do you calculate Total Manufacturing Cost for a job?
Total Manufacturing Cost = Direct Materials + Direct Labor + Manufacturing Overhead Assigned to Job
How do you calculate Unit Product Cost?
Unit Product Cost = Total Job Cost/Number of Units
How do you calculate total price for a job?
Total Price for Job = Total Manufacturing Cost + (Total Manufacturing Cost X % of Markup)
How do you calculate selling price per unit?
Selling Price per Unit = Total Price for Job/Number of Units
How do you calculate Cost of Good Sold for a company?
COG = Total Cost Job 1 + Total Cost Job 2 etc….
How do you calculate Overhead Applied to a Job?
Overhead Applied to a Job = Predetermined Overhead Rate X Actual Amount of Allocation Base Used y Job
How do you calculate Unit Product Cost for a Job?
Total Manufacturing Cost/Units
