Use the table to calculate the followings Product 1 product 2 Product 3 direct material cost $25,000
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Question:
Use the table to calculate the followings
| Product 1 | product 2 | Product 3 | |
| direct material cost | $25,000 | $30,000 | $35,000 |
| Direct labor cost | $30,000 | $40,000 | $50,000 |
| Direct labor hours | 1200 hours | 1,800 hours | 2000 hours |
Factory overhead is estimated at $30,000 and is applied based on direct labor hours. This overall cost cannot be attributed to any particular product.
1.What is the factory overhead assigned to Product 2?
2.What is the total product cost of Product 1?
Expert Answer:
1 To assign the factory overhead to Product 2 we need to calculate the total direct labor hours for ... View the full answer
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