COST ACCOUNTING
INTRODUCTION TO COST ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
RM 1, 667.50
|
|
|
RM 1, 167.50
|
|
|
RM 1, 116.75
|
|
|
RM 1, 166.50
|
Detailed explanation-1: -Total product costs can be determined by adding together the total direct materials and labor costs as well as the total manufacturing overhead costs.
Detailed explanation-2: -Using the formula Total job cost = Direct materials + direct labor + applied overhead, Jared adds $400 + $660 + $366.74 to arrive at a total job cost of $1, 426.74.
Detailed explanation-3: -Total cost of production= Cost of labor Cost of raw materials ie Overhead costs on manufacturing.
Detailed explanation-4: -To calculate total manufacturing cost you add together three different cost categories: the costs of direct materials, direct labour and manufacturing overheads. Expressed as a formula, that’s: Total manufacturing cost = Direct materials + Direct labour + Manufacturing overheads.