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Cost and manufacturing cost?
I have a homework problem that is asking me to calculate total cost.
Now I know that I just need to add up certain things. It gives me Materials Issued, Machine Hours, Direct Labor Hours, and Direct Labor Cost, but I am assuming I have to figure out Overhead Cost. My teacher told us that we need to estimate overhead cost. I understand how to do that. But the problem is taking place during the month of December and it gives me the overhead budget, planned machine hours to use, and the actually amount for both. Does this mean that I just take the actual amounts of both the budget and machine hours used, divide them, and that will give me the overhead cost per machine hour for each job? I'm really confused. Please help. Thank you. |
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