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Question - Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 46,000 direct labor-hours, total fixed manufacturing overhead cost of $322,000, and a variable manufacturing overhead rate of $4.80 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data:
Total direct labor-hours 400Direct materials$800Direct labor cost$6,300
Required: Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%.
Up to 31st March, 1959, Henry, John and Kenneth had been trading in partnership and sharing profits in the respective proportions of 8, 7 and 5, and the firms.
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The deferred tax liability classified as noncurrent that resulted from the use of MACRS for tax purposes and straight-line depreciation for financial reporting purposes, increased from $40,000 at the beginning of the year to $44,000 at the end of ..
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