Lucy Sportswear manufactures a line of specialty T-shirts using a job order costing system. In March the company incurred the following costs to complete Job ICU2: direct materials, $19,200, and direct labor, $5,200. The company also incurred $1,200 of administrative costs and $2,400 of selling costs to complete this job. Job ICU2 required 1,200 machine hours. Factory overhead was applied to the job at a rate of $30 per machine hour. If Job ICU2 resulted in 4,000 good shirts, what was the cost of goods sold per shirt? (Round answer to 1 decimal place, e.g. 3.5.) Cost per shirt  $ __________________

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 3CMA: Lucy Sportswear manufactures a specialty line of T-shirts using a job order cost system. During...
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Lucy Sportswear manufactures a line of specialty T-shirts using a job order costing system. In March the company incurred the following costs to complete Job ICU2: direct materials, $19,200, and direct labor, $5,200. The company also incurred $1,200 of administrative costs and $2,400 of selling costs to complete this job. Job ICU2 required 1,200 machine hours. Factory overhead was applied to the job at a rate of $30 per machine hour.

If Job ICU2 resulted in 4,000 good shirts, what was the cost of goods sold per shirt? (Round answer to 1 decimal place, e.g. 3.5.)

Cost per shirt  $ __________________
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