1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assuming that the entire amount of the underapplied or overapplied overhead is closed out to...

3:8

Extracted text: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assuming that the entire amount of the underapplied or overapplied overhead is closed out to underapfiel Cost of Goods Sold, what would be the effect of the underapplied or overapplied overhead on the company's gross margin for the period? EXERCISE 3-8 Applying Overhead; Computing Unit Product Cost [LO3-2, LO3-3] A company assigns overhead cost to completed jobs on the basis of 125% of direct labor cost. The job cost sheet for Job 313 shows that $10,000 in direct materials has been used on the job and that $12,000 in direct labor cost has been incurred. A total of 1,000 units were produced in Job 313.


Extracted text: Job-Order Costing Required: What is the total manufacturing cost assigned to Job 313? What is the unit product cost for Job 313?