Columbo Corporation has two production departments, Forming and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: FormingFinishingMachine-hours 17,000 10,000Direct labor-hours 1,000 9,000Total fixed manufacturing overhead cost$110,500$78,300Variable manufacturing overhead per machine-hour$1.60 Variable manufacturing overhead per direct labor-hour $3.30During the current month the company started and finished Job A948. The following data were recorded
for this job:Job A948:FormingFinishingMachine-hours 70 30Direct labor-hours 10 50Direct materials$650$330Direct labor cost$380$1,900If the company marks up its manufacturing costs by 40% then the selling price for Job A948 would be closest to: (Round your intermediate calculations to 2 decimal places.)
A. $6,197.80
B. $6,818.00
C. $4,427.00
D. $1,770.80
Answer: A
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