Based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:Total machine-hours 32,000Total fixed manufacturing overhead cost $ 352,000Variable manufacturing overhead per machine-hour $ 3.00Recently, Job T687 was completed with the following characteristics:Number of units in the job 10Total machine-hours 40Direct materials $ 675Direct labor cost $ 1,350If the company marks up its unit product costs by 40% then the selling price for a unit in Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)a. $283.50b. $103.40c. $361.90d. $546.00

c. $ 361.90

Explanation:

Computation of Predetermined overhead rate based on machine hours

Estimated fixed machine overhead                           $ 352,000

Estimated Machine Hours                                                32,000 hours

Predetermined overhead rate = Estimated fixed machine overhead/ Estimated Machine hours

$ 352,000 / 32000 machine hours  = $ 11 per machine hour

Computation of total costs of Job T687

Direct materials                                                                                        $   675

Direct labour Cost                                                                                    $ 1,350

Fixed manufacturing overhead $ 11 per machine hour * 40 hours       $   440

Variable manufacturing overhead $ 3 per machine hour * 40 hours   $   120

Total manufacturing cost of Job T 687                                                  $ 2,585

No of units in Job T 687                                                                          10 units    

Average cost per unit                                                                           $ 258.50

Computation of selling price

mark up on cost = 40 %

Selling price per unit     $ 258.50 * 140 %      =                                  $ 361.90

the u.s. census bureau produces data on the population and economy nationwide. it can you to analyze the kind of people living in your neighborhood. it does not show you the market of people willing to buy your product or an existing market for your product. that will require more market research. the census bureau only gives you an insight to the demographics in your area.

answer; comparing the additional benefits and costs;