EZ Corp uses a Normal Costing system utilizing Job Cost Records. EZ Corp assigns overhead...
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Accounting
EZ Corp uses a Normal Costing system utilizing Job Cost Records. EZ Corp assigns overhead based upon machine hours. The following pertains to Job Cost Record #10 upon its completion: Actual direct materials consumed .........................................$15,000 Actual Direct labor hours used ..................................................1,000 Budgeted direct labor hourly rate ................................................$20 Actual direct labor hourly rate .....................................................$21 Budgeted machine hours for the year .....................................10,000 Actual machine hours used for Job #10 .......................................120 Budgeted manufacturing overhead for the year ..................$500,000 Calculate the total cost of Job #10 prior to adjusting for any overapplied or underapplied overhead
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