At the beginning of 2014, Ovila Company estimated the following costs to produce one unit of product: 8 pounds of direct material costing $3 per pound; and, 2 hours of direct labor costing $12 per hour. Ovila also estimated annual factory overhead totaling $380,000, and 15,000 direct labor hours to be worked during the year.
Job 130, containing 400 identical units, was completed and sold during August of 2014. Job 130 required 2,500 pounds of direct material costing $4,500, and 680 hours of direct labor costing $8,700. At the end of 2014, Ovila determined that the total actual factory overhead was $480,000, and direct labor hours worked to have been 10,800.
Required:
(a) What was the estimated cost of Job 130?
(b) What is the "normal" cost of Job 130?
(c) What is the "prime" cost of Job 130?