Period manufacturing operations of a company requires 5000 p

Period manufacturing operations of a company requires 5,000 pounds in direct materials and 3,000 hours of direct labor. Unit direct material cost is $100 per pound, and unit direct labor cost is $80 per hour. Estimated overhead is $50 per each hour of direct labor. Provide the period manufacturing costs statement.  

Only in word format please. with explanation

Solution

Solution:

Required direct material = 5000 pounds

unit cost of direct material - $100 per pound

Total cost of direct material = 5000*100 = $500,000

Required direct labor hours = 3000 hours

unit direct labor cost = $80 per hour

Total cost of direct labor = 3000*80 = $240,000

Estimated overhead = $50 each hour of direct labor

Applied overhead cost = $50*3000 = $150,000