Given the cost of direct materials of $500 and the labour rate of $20 per hour. Assuming the predetermined overhead rate is $5 per hour and the actual hours is 50 hours - please calculate the total cost of this job?

To calculate the total cost of the job, we need to consider the direct materials cost, direct labor cost, and overhead cost.

1. Direct Materials Cost:
Given: $500 (cost of direct materials)

2. Direct Labor Cost:
Given: Labor rate of $20 per hour
Given: Actual hours of 50 hours

To calculate the direct labor cost, multiply the labor rate by the number of hours:
Direct Labor Cost = Labor Rate × Actual Hours
Direct Labor Cost = $20 × 50
Direct Labor Cost = $1,000

3. Overhead Cost:
Given: Predetermined overhead rate of $5 per hour
Given: Actual hours of 50 hours

To calculate the overhead cost, multiply the predetermined overhead rate by the number of hours:
Overhead Cost = Predetermined Overhead Rate × Actual Hours
Overhead Cost = $5 × 50
Overhead Cost = $250

4. Total Cost:
To calculate the total cost of the job, add the direct materials cost, direct labor cost, and overhead cost:
Total Cost = Direct Materials Cost + Direct Labor Cost + Overhead Cost
Total Cost = $500 + $1,000 + $250
Total Cost = $1,750

Therefore, the total cost of the job is $1,750.