Saved mework #2 0 Exercise 2-12 computing Predeterminea overhead Rates and JoD c
ID: 2332454 • Letter: S
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Saved mework #2 0 Exercise 2-12 computing Predeterminea overhead Rates and JoD costs [LO2-1, LOZ-2, Lo2-3 Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 160,800 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 4.10 $651,00 Required: 1. Compute the plantwide predetermined overhead rate. 2 During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $310 $ 270 30 s Compute the total manufacturing cost assigned to Job 400 3. If Job 400 includes 60 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 110% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the plantwide predetermined overhead rate. (Round your ansiver to 2 decimal places.) Predetermined overhead rate per MH Required 2 C Prev Next> pe here to searchExplanation / Answer
Answers
Working
Requirement 1
A [given]
Total Fixed Manufacturing Overhead cost
$ 651,000.00
B [ given]
Total machine hours estimated
160,000
C = A/B
Fixed Overhead rate per machine hour
$ 4.07
D
Variable manufacturing overhead cost per machine hour
$ 4.10
E = C+D
Plantwide Predetermined Overhead rate
$ 8.17
Working
Requirement 2
A
Machine hours used by Job 400
30
B
Plantwide Predetermined Overhead rate
$ 8.17
C = A x B
Total Overhead cost applied
$ 245.10
D
Direct Material
$ 310.00
E
Direct labor cost
$ 270.00
F = C+D+E
Total manufacturing cost assigned to Job 400
$ 825.00
Working
Requirement 3
A
Total manufacturing cost assigned to Job 400
$ 825.00
B
No. of units produced in Job 400
60
C = A/B
Unit Product Cost
$ 14.00
Working
Requirement 4
A
Unit Product Cost
$ 14.00
B = A x 110%
Mark Up
$ 15.4
C = A+B
Selling Price per unit
$ 29
Working
Requirement 1
A [given]
Total Fixed Manufacturing Overhead cost
$ 651,000.00
B [ given]
Total machine hours estimated
160,000
C = A/B
Fixed Overhead rate per machine hour
$ 4.07
D
Variable manufacturing overhead cost per machine hour
$ 4.10
E = C+D
Plantwide Predetermined Overhead rate
$ 8.17
Working
Requirement 2
A
Machine hours used by Job 400
30
B
Plantwide Predetermined Overhead rate
$ 8.17
C = A x B
Total Overhead cost applied
$ 245.10
D
Direct Material
$ 310.00
E
Direct labor cost
$ 270.00
F = C+D+E
Total manufacturing cost assigned to Job 400
$ 825.00
Working
Requirement 3
A
Total manufacturing cost assigned to Job 400
$ 825.00
B
No. of units produced in Job 400
60
C = A/B
Unit Product Cost
$ 14.00
Working
Requirement 4
A
Unit Product Cost
$ 14.00
B = A x 110%
Mark Up
$ 15.4
C = A+B
Selling Price per unit
$ 29
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