The Job Cost Sheet for Job Number 93-471 Includes the Following

question 152

Essay

The job cost sheet for Job number 93-471 includes the following information:
DIRECT MATERIALS:
7/12 Requisition R93-566: 20 units @ $3.50 per unit
7/13 Requisition R93-576: 18 units @ $5.00 per unit
7/13 Requisition R93-578: 4 units @ $25.00 per unit
7/14 Requisition R93-591: 40 units @ $1.25 per unit
DIRECT LABOR:
7/12 Employee 19: 8 hours @ $9.00 per hour
7/13 Employee 19: 6 hours @ $9.00 per hour
7/13 Employee 37: 6 hours @ $7.00 per hour
7/14 Employee 19: 5 hours @ $9.00 per hour
7/14 Employee 92: 5 hours @ $11.00 per hour
FACTORY OVERHEAD:
Assigned at 150% of direct labor cost.
What is the total cost of Job number 93-471?

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Definitions:

Binary Variable

A variable that has only two possible values, often represented as 0 and 1, used to denote presence or absence, success or failure, and similar dichotomies.

Optimal Solution

The most efficient, effective, or desirable solution to a problem or the best decision given the constraints.

Total Cash

The overall amount of liquid assets available to an individual or organization.

Price/demand Elasticity

A measure of how much the demand for a product changes in response to a change in its price.