MChapter 4 HW x (8 Bodybuilding.com-Huge × oard Content ezto.mheducation.com/hm.

Question

MChapter 4 HW x (8 Bodybuilding.com-Huge × oard Content ezto.mheducation.com/hm.tpx Kody Corporation uses a job-order costing syst At the beginning of the year, the company made the following estimjates Machine-hours required to support estimated production Fixed manufacturing overhead cost Vanable manufacturing overhead cost per mac hine-hour 151.000 $ 657,000 , 4.80 Required: 1. Compute the predetermined overhead rate. (Do not round intermediate calculations. Round your rate Dont round intermediate calculations. Round your answer to 2 decimal places.) overhead per MH 2 During the year Job 500 was started and completed. The folloxing information was available with respectto this job Direct matenals Dicest labor cost Rouhd your Intermediate colculaions TOSHIBA

Explanation / Answer

1.

Manufacturing cost = fixed manufacturing overhead cost + variable manufacturing overhead cost

= $ 657000 + $724800

= $1381800

Predetermined overhead rate = Estimated manufacturing overhead cost / Estimated total hours in the allocation base

= $1381800 / 151000

= 9.15 per MH

2. Total manufacturing cost assigned to job 500 =

Direct material cost + direct labor cost + Manufacturing overhead cost

= 320 + 290 + (9.15*37)

= 948.55

3 Actual manufacturing overhead cost = 1338570

Predetermined manufacturing overhead cost = $1381800

1381800 > 1338570

Over applied = Applied overhead > Actual overhead cost

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